Increase in domestic primary aluminium consumption has led to the growth in China’s A00 aluminium ingot price for the second day this week, even amid the muted raw materials costs. According to the Shanghai Metals Market, A00 aluminium ingot price has built up by RMB 80 per tonne on Thursday, April 8, to settle at RMB 17,470 per tonne. The average prices are expected to range between RMB 17,450 per tonne and RMB 17,490 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne.
In Foshan and Hangzhou, A00 aluminium ingot price has grown the highest by RMB 90 per tonne to clock at RMB 17,480 per tonne and RMB 17,510 per tonne, respectively. In Gongyi, the price has climbed by RMB 80 per tonne to RMB 17,360 per tonne, while the price in Chongqing and Tianjin has increased by RMB 75 per tonne and RMB 70 per tonne to peg at RMB 17,450 per tonne. In Wuxi and Linyi, A00 aluminium ingot price has come in at RMB 17,470 per tonne, growing by RMB 65 per tonne and RMB 60 per tonne, respectively. The price in Shenyang is hovering around RMB 17,460 per tonne, found SMM.
However, aluminium alloys prices have remained muted, despite an increase in A00 aluminium ingot price today, According to SMM, aluminium alloy (A356) price is continuing at RMB 18,150 per tonne on April 8 after a plunge last day. The average prices are also expected to continue to range between RMB 18,100 per tonne and RMB 18,200 per tonne.
Aluminium alloys (ADC12) price and aluminium alloy (A380) price are hovering around RMB 17,850 per tonne and RMB 18,850 per tonne, respectively.
Among the primary aluminium input costs, aluminium powder price has inched up by RMB 0.10 per kg to stand at RMB 21.05 per kg, found SMM.
Responses
