A00 aluminium ingot price in China closes near 10-year high at RMB17760/t on production curb fears

A00 aluminium ingot price in China has jumped by RMB 290 per tonne on Wednesday, April 14, to reach near 10-year high at RMB 17,760 per tonne on fears that Chinese primary aluminium producers will limit their output to meet environmental targets. The average prices are expected to range between RMB 17,740 per tonne and RMB 17,780 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne.

Some traders said that China’s Xinjiang region would cut the production of aluminium, an energy intensive industry, as the country strived to curb pollution. However, there has been no confirmation of such event until now.

In Chongqing, A00 aluminium ingot price has soared by RMB 350 per tonne to come in at RMB 17,760 per tonne, followed by the surge of RMB 300 per tonne and RMB 280 per tonne in Foshan and Wuxi to stand at RMB 17,830 per tonne and RMB 17,765 per tonne, respectively. In Tianjin, primary aluminium ingot price has grown by RMB 250 per tonne to RMB 17,710 per tonne, while the price in Gongyi and Shenyang has increased by RMB 240 per tonne to clock at RMB 17,610 per tonne and RMB 17,715 per tonne. In Linyi and Hangzhou, A00 aluminium ingot price has climbed by RMB 190 per tonne and RMB 90 per tonne to settle at RMB 17,680 per tonne and RMB 17,500 per tonne, respectively.

Backed on the surge in A00 aluminium ingot price, aluminium alloy (A356) price has expanded by RMB 300 per tonne to close near RMB 18,500 per tonne as of April 14. The price has settle at RMB 18,450 per tonne, with average prices likely to range between RMB 18,400 per tonne and RMB 18,500 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have seen an increase of RMB 100 per tonne to RMB 17,950 per tonne and RMB 18,950 per tonne, respectively.