However, a broader analysis over the past month and even weekly trend indicates a continuing downward track in prices. One of the primary reasons for the decline in aluminium prices is the weak purchase sentiment across China due to a traditional off-season and a massive 2-year hike in primary aluminium production to approximately 3.65 million tonnes.
As of June 19, 2024, A00 aluminium ingot price has also increased in many Chinese regions like Gong Yi, Foshan, Wu Xi, Hang Zhou, Chon Qing and Lin Yi. In Foshan, Hangzhou, Chongqing, and Linyi, A00 aluminium ingot price has gained RMB 50 per tonne to amount to RMB 20,210 per tonne, RMB 20,400 per tonne, RMB 20,310 per tonne, and RMB 20,450 per tonne, respectively. In Gongyi and Wuxi, the price has climbed up by RMB 30 per tonne to RM 20,310 per tonne and RMB 20,380 per tonne.
Shenyang has been an exception, losing RMB 20 per tonne June 19 to stand at RMB 20,350 per tonne.
The domestic low-carbon aluminium price has elevated by RMB 50 per tonne on June 19 to come in at RMB 21,195 per tonne.
