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15 JUNE 2020 AL CIRCLE

A00 aluminium ingot price grows by RMB20/t on further plunge in inventories, input costs remain muted

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The A00 aluminium ingot price has recorded a rise of RMB 20 per tonne to stand at RMB 13,820 per tonne on Monday, June 15, following a decline from RMB 13,860 per tonne to RMB 13,800 per tonne on June 12, found Shanghai Metals Market. The hike in A00 aluminium ingot price today could be attributed to the further plunge in primary aluminium inventories by 20,000 tonnes over the weekend ending June 15. The average prices of primary aluminium ingots are expected to range between RMB 13,800 per tonne and RMB 13,840 per tonne, with spot contract to be traded at a discount and premium price of RMB 30-10 per tonne.

A00 aluminium ingot price grows by RMB20/t on further plunge in inventories

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However, since the growth in A00 aluminium ingot price has not touched upon all the major markets in China, Tianjin and Linyi have witnessed a downfall of RMB 50 per tonne and RMB 20 per tonne to come in at RMB 13,770 per tonne and RMB 13,720 per tonne, respectively. Cities like Foshan, Chongqing, and Gongyi have seen an increase in A00 aluminium ingot price of about RMB 50 per tonne and RMB 40 per tonne to stand respectively at RMB 13,860 per tonne, RMB 13,760 per tonne, and RMB 13,725 per tonne. In Wuxi, the ingot price has grown by RMB 15 per tonne to RMB 13,810 per tonne, while that in Hangzhou and Shenyang has increased by RMB 13,830 per tonne and RMB 13,765 per tonne.

The prices of aluminium alloys have remained muted as of today, June 15. While the aluminium alloys (ADC12) price has remained restrained at RMB 13,950 per tonne, the prices of aluminium alloy (A380) and aluminium alloy (A356) have continued to hover at RMB 14,850 per tonne and RMB 14,500 per tonne, respectively.

Energy Consumption in Aluminium Smelting

As far as the aluminium input costs are concerned, neither have they recorded any changes in prices. While the average alumina spot price is still hovering at RMB 2,247 per tonne, the prices bauxite and prebaked anode have continued to stand at RMB 540 per tonne and RMB 2,670 per tonne, as of June 15.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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