A00 aluminium ingot price extends its drop in China, but the input costs show no change

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According to Shanghai Metals Market, the A00 aluminium ingot price has extended its drop today, on January 3, to RMB 13,270 per tonne from RMB 13,310 per tonne, as of January 2. Since the reopening of the market in the New Year 2019, the Chinese A00 aluminium ingot price has recorded a plunge for the past two days in a row. Today, the average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot discounts to settle at RMB 60 per tonne to RMB 20 per tonne.

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The aluminium ingot price in the east Wuxi and Hangzhou has declined by RMB 40 per tonne and RMB 35 per tonne to stand at RMB 13,290 per tonne and RMB 13,305 per tonne, respectively. The A00 ingot price in the south and north, on the other hand, has plunged by RMB 60 per tonne and RMB 40 per tonne to clock at RMB 13,390 per tonne and RMB 13,260 per tonne, respectively.

As far as the input costs are concerned, the alumina spot price has shown no change since the beginning of the year. The price had recorded the last drop on December 27 from RMB 2,950 per tonne to RMB 2,934 per tonne.

The price in the east and central is hovering at RMB 2,970 per tonne and RMB 2,940 per tonne, while that in the north and south is at RMB 2,910 per tonne and RMB 2,970 per tonne, respectively. The Australian alumina FOB price has also recorded no change since December 27 after the fall from US$ 415 per tonne to US$ 405 per tonne.

The prices of other raw materials have neither registered any change since the year began, except aluminium powder which dropped today by RMB 10 per kg to RMB 16.80 per kg. Others like the bauxite price is still hovering at RMB 570 per tonne, the pre-baked anode at 3,495 per tonne, and aluminium fluoride at RMB 11,200 per tonne.

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