According to Shanghai Metals Market, the A00 aluminium ingot price has extended its drop today, on December 28, to RMB 13,440 per tonne from RMB 13,540 per tonne on the previous day. Today’s price marks the lowest so far since the last two months. About a month ago on November 30, the price had reached at RMB 13,500 per tonne, but today it went below that. The average prices are expected to range between RMB 13,420 per tonne and RMB 13,460 per tonne, with spot discounts to settle at RMB 120 per tonne to RMB 80 per tonne. The average spot discounts rose by RMB 10 per tonne today from the previous day.
The decline in ingot prices today touched all the major markets in China, SMM found. In the east Wuxi and Hangzhou, the ingot prices fell RMB 55 per tonne and RMB 50 per tonne and stood at RMB 13,485 per tonne and RMB 13,495, respectively. In the south, the price plunged RMB 130 per tonne to stand at RMB 13,580 per tonne while in the north, the price dropped RMB 65 per tonne to clock at RMB 13,485 per tonne.
No input cost recorded a drop today, except the aluminium powder which declined by RMB 10 per tonne to stand at RMB 17 per kg. The prices of other raw materials such as alumina, bauxite, and the pre-baked anode showed restraint at the previous prices. For instance, alumina hovered at RMB 2,934 per tonne, bauxite at RMB 570 per tonne, and the pre-baked anode at RMB 3,625 per tonne.
The alumina price in the east continued to be at RMB 2,970 per tonne while in the central, north, and south at RMB 2,940 per tonne, RMB 2,910 per tonne, and RMB 2,970 per tonne.