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12 SEPTEMBER 2019 AL CIRCLE

A00 aluminium ingot price grows by RMB80/t and price of alloy (ADC12) by RMB50/t on limited supplies

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to Shanghai Metals Market, the A00 aluminium ingot price has further expanded its rise for the third day in a row by RMB 80 per tonne to RMB 14,550 per tonne, as of September 12. The average prices are expected to range between RMB 14,530 per tonne and RMB 14,570 per tonne, with spot contract to be traded at a discount price of RMB 10 per tonne to a premium price of RMB 30 per tonne.

A00 aluminium ingot grows by RMB80/t

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The incessant rise in A00 aluminium ingot price this week could be because of the tight supply of primary aluminium in the Chinese market due to low arrivals of stocks in inventories. Domestic production dropped, while commissioning of new or recovered capacity remained slow, resulting in limited availability in the market.

The growth in ingot price today of RMB 80 per tonne has touched upon the three major cities  in China, such as Foshan, Shenyang, and Gongyi, and the prices there are thus standing at RMB 14,560 per tonne, RMB 14,515 per tonne, and RMB 14,440 per tonne, respectively. Cities like Hangzhou, Chongqing, and Tianjin have seen the even higher price rise by RMB 90 per tonne to RMB 14,560 per tonne, RMB 14,570 per tonne, and RMB 14,520 per tonne. In Wuxi and Linyi, the price has registered an increase by RMB 70 per tonne and RMB 60 per tonne to RMB 14,520 per tonne and RMB 14,530 per tonne, found Shanghai Metals Market.

Red Mud Report

According to SMM, today, on September 12, the prices of aluminium alloys have also grown backed on the third consecutive rise in aluminium ingot price and the decline in stocks. While the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have increased by RMB 50 per tonne to RMB 14,150 per tonnes and RMB 15,000 per tonne, the price of aluminium alloy (A356) has climbed up by RMB 100 per tonne to RMB 15, 200 per tonne.

Aluminium alloy (ADC12) grows by RMB50/t

The input costs, except the aluminium powder, have remained muted. According to SMM data, the price of aluminium powder has recorded a rise by RMB 0.10 per kg to RMB 18.10 per kg.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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