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22 JANUARY 2020 AL CIRCLE

A00 aluminium ingot price extends decline to RMB14090/t on high inventories and low consumption

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the Shanghai Metals Market, the A00 aluminium ingot price has extended its decline today, on January 22, by RMB 30 per tonne to stand at RMB 14,090 per tonne. The average prices are expected to range between RMB 14,070 per tonne and RMB 14,110 per tonne, with spot contract to be traded at a discount price of RMB 110 per tonne to RMB 70 per tonne.

A00 aluminium ingot price extends decline to RMB14090/t

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Over the last three days, the A00 aluminium ingot price in China has seen ceaseless declines right from RMB 14,550 per tonne to RMB 14,090 per tonne, due to which the price of the metal is down by 350 per tonne or 2.42 per cent month-on-month. During the same period last month, the A00 aluminium ingot price was RMB 14,440 per tonne. Rise in primary aluminium inventories over the last two weeks and weak consumption before the Chinese New Year holiday could be attributed to the plunge in A00 aluminium ingot price.

Chinese cities like Shenyang, Tianjin, and Linyi have seen a drop of RMB 30 per tonne in the ingot price today and Foshan, Hangzhou, Gongyi, and Chongqing have witnessed a decline of RMB 20 per tonne, RMB 15 per tonne, and RMB 10 per tonne, respectively. Meanwhile, in Wuxi, the ingot price has recorded a growth of RMB 20 per tonne to RMB 14,110 per tonne.

global aluminium Industry outlook 2020

The input costs have remained restrained today and also the prices of aluminium alloys, according to SMM. The average alumina spot price is hovering at RMB 2,454 per tonne, pre-baked anode RMB 2,780 per tonne, aluminium fluoride RMB 8,100 per tonne, and bauxite RMB 560 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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