A00 aluminium ingot price plummets by RMB1140/t on lower downstream purchases

A00 aluminium ingot price in China has nosedived by RMB 1,140 per tonne on Tuesday, March 8, to come in at RMB 22,720 per tonne, found the Shanghai Metals Market, attributable to lower willingness of downstream purchases in the domestic market. The average prices are expected to range between RMB 22,700 per tonne and RMB 22,740 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne.

In Foshan, A00 aluminium ingot price has plummeted by RMB 1,170 per tonne to stand at RMB 22,690 per tonne, followed by the plunge of RMB 1,140 per tonne in Wuxi and Hangzhou to RMB 22,710 per tonne and RMB 22,720 per tonne, respectively. In Chongqing and Shenyang, primary aluminium ingot price has shrunk by RMB 1,130 per tonne and RMB 1,080 per tonne, respectively, to close at RMB 22,630 per tonne and RMB 22,710 per tonne, while the price in Tianjin, Gongyi, and Linyi has fallen sharply by RMB 1,070 per tonne, RMB 1,030 per tonne, and RMB 980 per tonne to settle at RMB 22,720 per tonne, RMB 22,640 per tonne, and RMB 22,820 per tonne.

Aluminium alloy (A356) price has also seen a sharp fall of RMB 1,000 per tonne on March 8 to settle at RMB 24,200 per tonne, learned SMM. The average prices are expected to range between RMB 24,100 per tonne and RMB 24,300 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have slipped by RMB 300 per tonne to peg at RMB 22,800 per tonne and RMB 23,800 per tonne.

Among primary aluminium input costs, caustic soda (32% concentration) price in Shandong has slipped by RMB 25 per tonne to come in at RMB 905 per tonne as of Tuesday, March 8. The average prices are likely to range between RMB 850 per tonne and RMB 960 per tonne.

Caustic soda (50% concentration) price has decreased by RMB 45 per tonne to RMB 1,580 per tonne, with average prices likely to range between RMB 1,560 per tonne and RMB 1,600 per tonne.