According to the Shanghai Metals Market survey, A00 aluminium ingot price initiated the week of July 22 with a downfall of RMB 60 per tonne to stand further below the RMB 19,500 per tonne level. Data shows the price has clocked at RMB 19,430 per tonne, marking the lowest in the past three months. On a week-on-week basis, the price edged a fall of 3.04 per cent from RMB 20,040 per tonne; while on a month-on-month calculation, it registered a decline of 4.10 per cent from RMB 20,260 per tonne.
The average prices are likely to range between RMB 19,410 per tonne and RMB 19,450 per tonne, with a spot contract to be traded at a discount price of RMB 90-50 per tonne.
