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31 MAY 2019 AL CIRCLE

A00 aluminium ingot price marks fourth consecutive decline today to RMB14180/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the Shanghai Metals Market, the price of A00 aluminium ingot has extended its fall by RMB 10 per tonne to RMB 14,180 per tonne on May 31, 2019. This marks the fourth consecutive decline since May 28. The average prices are expected to range between RMB 14,160 per tonne and RMB 14,200 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB 10 per tonne to a premium of RMB 30 per tonne.

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However, the decline in aluminium ingot today has not touched upon all the major cities in China, such as Wuxi, Hangzhou, Tianjin, and Gongyi. The aluminium ingot prices there are therefore still hovering at RMB 14,170 per tonne, RMB 14,230 per tonne, RMB 14,210 per tonne and RMB 14,115 per tonne, respectively.

Other cities have seen a decline in aluminium ingot price. In Foshan and Linyi, the price has declined by RMB 30 per tonne to RMB 14,250 per tonne and RMB 14,240 per tonne, while in Chongqing and Shenyang, the price dwindled by RMB 10 per tonne to clock at RMB 14,200 per tonne and RMB 14,220 per tonne.

Today, the average spot price of alumina has shown restraint at RMB 3078 per tonne, found Shanghai Metals Market. The Australian aluminium FOB price has neither moved from its previous price of RMB 377 per tonne.

Other input costs like that of bauxite, aluminium fluoride, pre-baked anode, cryolite, and aluminium powder have also recorded no change.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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