Chinese A00 aluminium ingot price climbs RMB 30 per tonne after two consecutive days of decline

After declining two days in a row, the A00 aluminium ingot spot price spurs yet again on September 19, by RMB 30 per tonne, Shanghai Metals Market found. A day before, the price was at 14430 per tonne while today the price has concluded at RMB 14460 per tonne. The average prices are expected to range between RMB 14460 per tonne and RMB 14480 per tonne; with spot discount to be settled at RMB 40 per tonne.

In the east and north, the spot prices of A00 aluminium ingot have climbed RMB 45 per tonne to stand at RMB 14465 per tonne and RMB 144485 per tonne, respectively. In the south, the price has increased by RMB 50 to stand at RMB 14620 per tonne, a little down than the rest two markets.

Alumina spot price, on the other hand, has recorded a plunge on September 19, from RMB 3302 per tonne, as on September 18, to RMB 3292 per tonne. This shows the average spot price has dipped by RMB 10 per tonne from the previous day. But most of the major markets in Chinese displayed no change in alumina spot price, except the Central where the cost has slipped by RMB 20 per tonne to RMB 3320.

Another update in SMM reports that China’s Ministry of Commerce has issued a statement on September 18, on the Trump administration’s decision to impose an additional 10 per cent tariff on $200 billion worth of Chinese imports, and threatened duties on about $267 billion more if China retaliates against the US action.

A spokesperson says: "We feel deeply regretful over the decision that the US, disregarding international and domestic trending opposition, announced imposing additional tariffs on $200 billion Chinese goods from September 24, and threatened to further escalate tariff measures."