Primary Aluminium News - Market

A00 aluminium ingot registers a slight gain today after consecutive falls in last five days

AL Circle

After following a severe downward curve for four days, aluminium prices in China have seen some upward movement today. As updated by Shanghai Metals Market, average A00 aluminium ingot price has gained RMB 40/t on November 23 to stand at RMB 14,800/t from RMB 14,760/t yesterday. 

The slight rise in aluminium A00 Aluminum prices has been reflected in all other individual markets in China. A00 ingot prices have registered an increase from RMB 20/t to RMB 70/t across all markets.   In the spot market aluminium is trading at a discount of RMB 160-120 /tonne.  The little gain in A00 ingot prices in the individual markets can be seen in the table below:

{alcircleadd}

As forecasted by SMM, bear’s closing out could prevent SHFE Aluminium from dropping in the short term. In the short focus will be on whether SHFE Aluminium can recover round number of RMB 15,000 per tonne. The most active SHFE Aluminium contract is estimated to move between RMB 14,950-15,200 per ton, with discount of spot at RMB 140-100 per tonne.

The prices of alumina, the prime raw material for aluminium, remain unchanged across all markets in China after consecutive falls in last five days. Average spot alumina prices in China has dropped from RMB 3,701/t to RMB 3,515/t in this five days, causing a drop in aluminium prices.

Bauxite prices also remain unchanged today in all provinces including Henan and Shanxi provinces and hover within a range of RMB 340 to 480 per tonne. Prebaked anode prices remain unchanged across all markets.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Related
Business Leads
Interested to buy aluminium ingot A7. Price : CIF China Tr...
22-Mar-2024 Buying request

Interested to buy aluminium ingot. Purity : 97% Destinatio...
21-Mar-2024 Buying request

We are looking for a company that can supply aluminium ingot...
21-Mar-2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads