According to the Shanghai Metals Market, the A00 aluminium ingot price has expanded its downfall than the previous day by about RMB 170 per tonne to stand at RMB 14,530 per tonne, as of Thursday, July 16. Yesterday, the price fell by RMB 120 per tonne, and today, it declined by RMB 290 per tonne. The average prices are expected to range between RMB 14,510 per tonne and RMB 14,550 per tonne, with spot contract to be traded at a premium price RMB 230-270 per tonne, up by RMB 250 per tonne, following a restraint last day.
The growth in spot aluminium premiums could be attributed to the enthusiastic purchase by downstream consumers to replenish their stocks due to the lowering trend of the primary aluminium price.
Today, Chongqing has seen the highest downfall in the aluminium ingot price of RMB 385 per tonne to RMB 14,310 per tonne. In Wuxi, the price has decreased by RMB 310 per tonne to RMB 14,520 per tonne, while that in Hangzhou, Tianjin, and Gongyi has declined by RMB 300 per tonne to RMB 14,540 per tonne, RMB 14,470 per tonne, and RMB 14,355 per tonne, respectively. Foshan, Linyi, and Shenyang have seen a decline of RMB 290 per tonne, RMB 240 per tonne, and RMB 235 per tonne, respectively, to peg at RMB 14,470 per tonne, RMB 14,520 per tonne, and RMB 14,450 per tonne.
The price of aluminium alloy (A356) has dwindled by RMB 250 per tonne to RMB 15,150 per tonne. The average prices are expected to range between RMB 15,100 per tonne and RMB 15,200 per tonne.
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The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have also fallen but slower than the aluminium alloy (A356) price. Both the prices aluminium alloys (ADC12) and aluminium alloy (A380) have inched down by RMB 50 per tonne to come in at RMB 14,000 per tonne and RMB 14,900 per tonne, respectively.
Among the primary aluminium input costs, only the price of aluminium powder has recorded a change by declining RMB 0.30 per kg to stand at RMB 18.05 per kg.
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