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02 AUGUST 2019 AL CIRCLE

A00 aluminium ingot price continues to fall on lowered input costs, brisk trade and improved inventory

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The A00 aluminium ingot price has dropped for the second day in a row on Friday, August 2, by RMB 40 per tonne to come in at RMB 13,830 per tonne, found Shanghai Metals Market. Improved inventory of primary aluminium on August 1, along with sluggish costs of alumina and prebaked anode could be the two primary reasons for the downfall of aluminium ingot price. Also, the spot aluminium trading was found brisk in the last two days on active transactions among traders, resulting in lowered aluminium ingot price. However, month-on-month the price is standing higher by RMB 180 per tonne. According to SMM, the average prices are expected to range between RMB 13,810 per tonne and RMB 13,850 per tonne, with spot contract to be traded at a premium price of RMB 40 per tonne.

A00 aluminium ingot price continues to fall

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Tianjin has seen the highest decline by RMB 50 per tonne to RMB 13,810 per tonne, followed by Wuxi, Linyi, Hangzhou, and Gongyi, where the ingot price fell by RMB 40 per tonne to RMB 13,830 per tonne, RMB 13,860 per tonne, and RMB 13,700 per tonne, respectively. In Foshan, Chongqing, and Shenyang, the price has declined by RMB 30 per tonne and RMB 25 per tonne to RMB 13,830 per tonne and RMB 13,810 per tonne.

As far as the input costs are concerned, the average spot price of alumina remained muted today at RMB 2,457 per tonne, followed by a decline yesterday from RMB 2,475 per tonne.

Red Mud Report

The prices of prebaked anode and aluminium powder have registered drops, on the other hand. The prebaked anode price in the central, southwest, and northwest of China have inched down by RMB 25 per tonne and RMB 50 per tonne respectively to stand at RMB 3,172 per tonne, RMB 3,550 per tonne, and RMB 3,600 per tonne. The aluminium powder price has declined by RMB 0.10 per kg and hovering at RMB 17.30 per kg.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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