A00 aluminium ingot price has extended its drop, albeit lower than October 15, by RMB 10 per tonne to stand at RMB 14,950 per tonne, as of Friday, October 16, found the Shanghai Metals Market. The average prices are expected to range between RMB 14,930 per tonne and RMB 14,970 per tonne, with spot contract to be traded at a premium price of RMB 250-290 per tonne, up by RMB 230 per tonne from the previous day.
Yesterday, on October 15, primary aluminium ingot price decreased by RMB 20 per tonne from RMB 14,980 per tonne to RMB 14,960 per tonne, according to SMM.
However, the decline in price today has not touched upon all the major markets in China except Shenyang, Chongqing, and Foshan, where A00 aluminium ingot price has shrunk by RMB 25 per tonne, RMB 20 per tonne, and RMB 10 per tonne to hover at RMB 14,915 per tonne, RMB 14,930 per tonne, and RMB 14,820 per tonne, respectively. In Linyi, the price has dipped by only RMB 5 per tonne to come in at RMB 14,910 per tonne.
In Wuxi, Hangzhou, and Tianjin, A00 aluminium ingot price has remained restrained at RMB 14,950 per tonne, RMB 14,945 per tonne, and RMB 14,920 per tonne, respectively, while that in Gongyi has increased by RMB 20 per tonne to stand at RMB 14,830 per tonne.
The price of aluminium alloy (A356) has declined as well by RMB 50 per tonne to RMB 15,550 per tonne. The average prices are expected to range between RMB 15,500 per tonne and RMB 15,600 per tonne.
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The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have, however, remained unchanged from RMB 15,150 per tonne and RMB 16,050 per tonne.
As far as the input costs are concerned, none has recorded any changes.
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