If we take the whole year into consideration, the lowest SMM price was recorded on January 6 at RMB 17,700 per tonne, from which it has grown by RMB 1,260 per tonne or 7.12 per cent. On the other hand, the highest rate was marked on September 28 at RMB 19,850 per tonne, from which it had slumped by RMB 890 per tonne or 4.48 per cent. This indicates that aluminium prices are slowly stabilising at the end of the year, and it can be seen that the aluminium market in China is not facing a fate similar to that of its European or American counterparts, as there are minor price fluctuations. Western countries are under the pangs of high inflation, which is the fundamental reason for an economic slowdown.
China's eight major provinces have all recorded slight decrease in aluminium prices today, with the biggest plunge of RMB 50 per tonne experienced by Gongyi and Foshan, where the aluminium prices stood at RMB 18,970 per tonne and RMB 19,010 per tonne. Other than that, in places like Wuxi, Hangzhou, Chongqing and Linyi, aluminium prices have witnessed a uniform decline.
