If we follow the SMM price chart, we can see that the Chinese aluminium market has not seen extreme growth in 2023; instead, the prices stayed around the average of RMB 18,000 per tonne, with a slight recovery on April 20, when the price stood at RMB 19,110 per tonne.
Today, on December 13, the SMM A00 aluminium price has shifted upward by RMB 10 per tonne to reach RMB 18,450 per tonne, with average prices ranging between RMB 18,430 per tonne and RMB 18,470 per tonne. On September 13, the aluminium price was RMB 19,430 per tonne; therefore, we can calculate a Quarter-on-Quarter downfall of RMB 980 per tonne or 5.04 per cent.
The month of September was the only time when the market seemed stable, with the first day recording RMB 19,610 per tonne, which grew by RMB 240 per tonne or 1.22 per cent to rest at RMB 19,850 per tonne on September 28, the highest point in 2023.
China's central provinces all recorded heightening prices today, with the aluminium price rising the highest in Linyi by RMB 60 per tonne to settle at RMB 18,600 per tonne, followed by RMB 40 per tonne influx in Foshan, where the price stood at RMB 18,630 per tonne. In Chongqing, Tianjin and Shenyang, the aluminium prices have registered a uniform rate of RMB 18,500 per tonne, with the first two places witnessing RMB 10 per tonne spike and the last noting RMB 20 per tonne escalation.
