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30 JULY 2020 AL CIRCLE

A00 aluminium ingot price jumps by RMB210/t marking the fourth consecutive hike; Alumina spot price continues to plunge

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The A00 aluminium ingot price has jumped by RMB 210 per tonne on Thursday, July 30, to stand at RMB 14,990 per tonne, marking the fourth consecutive hike this week, found the Shanghai Metals Market. Limited supplies and fair consumption of primary aluminium ingots, resulting in incessant drops in primary aluminium inventories in China market, could be attributed to the uptrend in A00 aluminium ingot price. The average prices today are expected to range between RMB 14,970 per tonne and RMB 15,010 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne, down by RMB 40 per tonne from the previous day.

A00 aluminium ingot price jumps by RMB210/t

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In Chongqing, the A00 aluminium ingot price has grown by RMB 215 per tonne to hover at RMB 14,880 per tonne, while that in Foshan, Hangzhou, and Shenyang has increased by RMB 210 per tonne to RMB 14,930 per tonne, RMB 15,000 per tonne, and RMB 14,945 per tonne, respectively. Wuxi and Tianjin have seen a growth of RMB 200 per tonne to RMB 14,990 per tonne and RMB 14,950 per tonne. In Gongyi, the A00 aluminium ingot price has grown by RMB 195 per tonne to RMB 14,890 per tonne, and that in Linyi, the price has trended up by RMB 170 per tonne to RMB 14,940 per tonne.

Backed on the surge in A00 aluminium ingot price, the price of aluminium alloy (A356) has also soared by RMB 200 per tonne to RMB 15,600 per tonne. The average prices are expected to range between RMB 15,550 per tonne and RMB 15,650 per tonne.

Pirce of aluminium alloy (A356) has soared by RMB200/t

The aluminium alloys (ADC12) price and aluminium alloy (A380) price have grown by RMB 50 per tonne to RMB 14,000 per tonne and RMB 14,900 per tonne.

Among the input costs, the average alumina spot price has further plunged by RMB 29 per tonne to RMB 2,387 per tonne. In the east and north, the price has decreased by RMB 35 per tonne to RMB 2,365 per tonne and RMB 2,375 per tonne, respectively, while that in the central has inched down by RMB 20 per tonne to RMB 2,390 per tonne. In the south, however, the alumina price has remained muted at RMB 2,520 per tonne.

Energy Consumption in Aluminium Smelting

The Australian alumina FOB price has shrunk by US$ 6 per tonne to US$ 275 per tonne. However, the imported alumina price has continued to remain at RMB 2,425 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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