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13 JUNE 2018 AL CIRCLE

A00 aluminium ingot price in China dwindles and so is alumina spot price: SMM updates

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

After a slight rise in average A00 aluminium ingot spot price on June 12, 2018, from RMB 14720 per tonne to RMB 14750 per tonne, it dropped again to RMB 14540 per tonne on June 13, according to Shanghai Metals Market. The prices are expected to range between RMB 14520 per tonne and RMB 14560 per tonne with spot discounts to settle at RMB 20 per tonne.

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This downfall in aluminium ingot price could be because traders were reluctant to purchase from the spot aluminium market and took a wait-and-watch stance on the face of narrowed spot discounts against the SHFE 1806 contract. The inventory also went down as aluminium ingot stocks at warehouses became limited. Given the shrinking inventory, sellers were reluctant to let go of their cargoes and supply thus, became tight.

The table below indicates the price movement of aluminium ingot in main China markets.

Alumina spot price, on the other hand, also saw a dip two days in a row, according to SMM. On June 12, it plunged from RMB 2904 per tonne to RMB 2856 per tonne and on June 13, it dropped further to RMB 2825 per tonne.

While in the east, the alumina spot price hovered at RMB 2920 per tonne on June 12 and RMB 2890 per tonne on June 13, after rallying at RMB 2950 per tonne from June 8 to 11; in the central, the price stood at RMB 2850 per tonne and RMB 2820 per tonne on June 12 and 13 respectively, compared to RMB 2900 per tonne from June 8 to 11. North and South also saw a plunge in alumina price in last two days from RMB 2890 per tonne to RMB 2830 per tonne and then to RMB 2795 per tonne, and from RMB 2960 per tonne to RMB 2920 per tonne and then to RMB 2895 per tonne respectively.

As far as the input costs are concerned, alumina alloys spot price dwindled today, on June 13, to RMB 15800 per tonne, after hovering at RMB 15850 per tonne from June 7 to June 12, 2018.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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