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A00 aluminium ingot price in China slips by RMB10/t; Caustic soda price in Shandong drops by RMB30/t

EDITED BY : 2MINS READ

On Wednesday, April 27, China’s A00 aluminium ingot price has closed at RMB 20,730 per tonne, after witnessing a decrease of RMB 10 per tonne. The average price for the same is expected to hover between RMB 20,710 per tonne and RMB 20,750 per tonne. For today the spot contract is likely to be traded at a discounted price of RMB -50 to RMB -10 per tonne. Fears over Covid Zero's economic impact have shaken financial markets, which are yearning for further policy help.

A00 aluminium ingot price in China slips by RMB10/t; Caustic soda price in Shandong drops by RMB30/t

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President Xi Jinping of China called for all-out efforts to boost infrastructure expenditure on Wednesday. Even so, it's possible it won't be enough to lift metal. It may remain at current low levels due to a "mismatch" in China's demand and supply of the metal, according to Huatai Futures in a note released on Wednesday. Despite the slow resumption of activity following the Covid lockdowns, the country's demand for the lightweight metal has yet to return to normal, according to the report, while local supply continues to increase.

However, only on Gongyi the price has gone up by RMB 40 per tonne to settle at RMB 20,990 per tonne. In Wuxi and Hangzhou the price has moved down by RMB 10 per tonne to halt at RMB 20,730 per tonne and RMB 20,850 per tonne. For the same day in Shenyang and Foshan, the price has climbed down by RMB 30 per tonne to stop at RMB 20,770 per tonne and RMB 20,820 per tonne. In Chongqing and Linyi the price has dropped by RMB 70 per tonne and RMB 60 per tonne to record at RMB 20,830 per tonne and RMB 20,880 per tonne. In Tianjin the price has plummeted by RMB 120 per tonne to peg at RMB 20,780 per tonne.

Aluminium alloy (ADC12) price has showed no change to stop at RMB 21,500 tonnes. For the same day, aluminium alloy (A356) price and (A380) price has also stood restrained to close at RMB 21,900 per tonne and RMB 22,500 per tonne.

Global Aluminium Industry Outlook 2022

Among other primary aluminium input cost, caustic soda (32% concentration) price in Shandong has descended by RMB 30 per tonne to score at RMB 1,230 per tonne. The average prices are expected to range between RMB 1170 per tonne and RMB 1,290 per tonne.


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EDITED BY : 2MINS READ

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