A00 aluminium ingot price grows by RMB110/t over the weekend after four straight declines; Aluminium alloy (A356) price up by RMB100/t

The A00 aluminium ingot price has recorded a hike of RMB 110 per tonne over the weekend ending July 20 to stand at RMB 14,480 per tonne, following four consecutive declines from RMB 15,320 per tonne to RMB 14,370 per tonne during July 13-17, according to the Shanghai Metals Market. The average prices are expected to range between RMB 14,460 per tonne and RMB 14,500 per tonne, with spot contract to be traded at a premium price of RMB 240-280 per tonne.

The increase in primary aluminium ingot price today could be attributed to the brisk trading over the past few days owing to the lower trend of the price. With increase in spot price, the premiums have decreased today by RMB 20 per tonne.

Linyi and Gongyi have seen the highest growth in primary aluminium price. The price in Linyi is hovering at RMB 14,550 per tonne, while that in Gongyi at RMB 14,450 per tonne. In Shenyang, Foshan, and Chongqing, the A00 aluminium ingot price has increased by RMB 135 per tonne and RMB 130 per tonne, respectively, to stand at RMB 14,450 per tonne, RMB 14,430 per tonne, and RMB 14,370 per tonne. Wuxi, on the other hand, has witnessed a growth of RMB 120 per tonne to come in at RMB 14,500 per tonne, while in Tianjin, the price has surged by RMB 110 per tonne to stand at RMB 14,490 per tonne.

Backed on the rise in A00 aluminium ingot price, the price of aluminium alloy (A356) has grown as well by RMB 100 per tonne to stand at RMB 15,100 per tonne. The average prices are expected to range between RMB 15,050 per tonne and RMB 15,150 per tonne.

However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 13,950 per tonne and RMB 14,850 per tonne, respectively.

The input costs have remained muted too, except the price of aluminium powder as it has grown by RMB 0.10 per kg to stand at RMB 18.05 per kg.