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17 JUNE 2021 AL CIRCLE

A00 aluminium ingot price in China declines by RMB190/t on the news of primary aluminium release from state reserves

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

A00 aluminium ingot price in China has decreased by RMB 190 per tonne as the news released that country would release primary aluminium from state reserves to ease the metal price rally. According to the Shanghai Metals Market, China’s primary aluminium ingot price has come in at RMB 18,650 per tonne as of Thursday, June 17, from RMB 18,840 per tonne on June 16. The average prices are expected to range between RMB 18,630 per tonne and RMB 18,670 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne.

A00 aluminium ingot price in China declines by RMB190/t on the news of primary aluminium release from state reserves

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China is preparing to release 800,000 to 900,000 tonnes of primary aluminium from state reserves in early July as Shanghai primary aluminium price rose 20 per cent this year amid a strong rebound in demand from the COVID-19 outbreak.

On June 17, primary aluminium ingot price in Wuxi has plunged by RMB 180 per tonne to stand at RMB 18,645 per tonne, while the price in Gongyi and Tianjin has declined by RMB 170 per tonne to reach at RMB 18,620 per tonne and RMB 18,640 per tonne, respectively. In Chongqing and Hangzhou, A00 aluminium ingot price has decreased by RMB 165 per tonne and RMB 160 per tonne to come in at RMB 18,685 per tonne and RMB 18,670 per tonne.

Backed on the decrease in A00 aluminium ingot price, aluminium alloy (A356) price has slid by RMB 200 per tonne to peg at RMB 19,350 per tonne, learned SMM. The average prices are expected to range between RMB 19,300 per tonne and RMB 19,400 per tonne.

AlCircle Expo 2021

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have slipped by RMB 50 per tonne to stand at RMB 18,500 per tonne and RMB 19,500 per tonne, respectively, as of June 17.

Tagged with:

Price Aluminium China SMM

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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