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22 OCTOBER 2021 AL CIRCLE

A00 aluminium ingot price in China nosedives by RMB1440/t to stand below RMB22000/t; Aluminium alloy (A356) price settles at RMB25750/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

After an intermittent rise of RMB 220 per tonne on October 21, A00 aluminium ingot price in China has again decreased sharply to close the week below RMB 22,000 per tonne. The Shanghai Metals Market data has found that the primary aluminium ingot price has plummeted by RMB 1,440 per tonne on October 22 to come in at RMB 21,900 per tonne. The average prices are expected to range between RMB 21,880 per tonne and RMB 21,920 per tonne, with spot contract to be traded at a premium price of RMB 110-70 per tonne.

A00 aluminium ingot price in China nosedives by RMB1440/t to stand below RMB22000/t

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In Chongqing, A00 aluminium ingot price has plunged by RMB 1,460 per tonne to stand at RMB 21,870 per tonne, and the price in Chongqing has declined by RMB 1,445 per tonne to peg at RMB 21,895 per tonne. In Hangzhou and Foshan, the primary aluminium ingot price has also declined significantly by RMB 1,440 per tonne and RMB 1,430 per tonne to close at RMB 21,900 per tonne and RMB 21,830 per tonne, respectively.

The stupendous rise in primary aluminium inventories this week could be contributed to the plunge in price. According to SMM report on October 21, China’s social inventories of primary aluminium have gained 70,000 tonnes over the week to come in at 957,000 tonnes, caused by higher arrivals of stocks at warehouses amid sluggish demand.

Aluminium alloy (A356) price has nosedived by RMB 1,700 per tonne to settle at RMB 25,750 per tonne on Friday, October 22. The average prices are likely to range between RMB 25,700 per tonne and RMB 25,800 per tonne.

Aluminium alloy (A356) price settles at RMB25750/t

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 800 per tonne to stand at RMB 23,250 per tonne and RMB 24,450 per tonne, respectively.

On the other hand, primary aluminium input costs have grown on October 22. To start with, the average alumina spot price has climbed by RMB 14 per tonne to stand at RMB 4,119 per tonne. While in Shandong, alumina price has gained RMB 25 per tonne to RMB 4,135 per tonne, the price in Henan and Shanxi has increased by RMB 15 per tonne to close at RMB 4,150 per tonne, found SMM.

Outlook for the Indian Aluminium Industry

Aluminium fluoride price has jumped by RMB 500 per tonne to stand at RMB 10,500 per tonne, with average prices likely to range between RMB 10,000 per tonne and RMB 11,000 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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