A00 ingot prices get a boost in all major China markets; Chalco hikes price in South China

A00 ingot prices got a boost in all major China markets on the back of aluminium capacity cut news buzzing in the market. It was also fuelled by Rusal’s estimate published yesterday that says winter cuts by Chinese government may result in an annualized production loss of 1.2 million tonnes in China at the end of the year.

The average prices for A00 Aluminium Ingot for all major Chinese markets (North, South, North-East and South-West) have registered a leap on July 28.

Among the domestic markets, the average price for A00 Aluminium Ingot for North China market has increased to RMB 14,225/t. In the South China market the price increased to RMB 14,290/t. The price gap between the two market increased toRMB 65/t.

The price in East China market (Zhejiang) jumped to RMB14,275/t and for Jiangsu province it increased to RMB14,210/t.

For the Southwest China market, the price increased to RMB 14,210/t and for Northwest China market it stood at RMB14,210/t.

A00 ingot prices have hovered around the 14,000 mark in all the major markets for some time indicating a bullish trend. A00 Aluminium Ingot in spot China market is trading at discounts of RMB 170 - 130/t.

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China Aluminum International Trading Co. (Chalco Trading) has increased aluminium prices it offered in South China market to RMB 14.330/t but cut it to RMB 14.330/t in Central China. Prices remain flat in East China and Southwest China market.

Aluminium alloy prices (A380 and A356) remain flat in China today.