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02 NOVEMBER 2017 AL CIRCLE

A00 aluminium ingot price plunges below RMB 16,000; alloy prices follow suit

EDITED BY : BEETHIKA BISWAS 2MINS READ

As updated by Shanghai Metals Market, average Prices of A00 aluminium ingot have plunged significantly across all markets today on November 2 after yesterday’s rise. The price drop is mostly attributed to slow downstream demand and growing stocks despite the winter capacity cut programme. Average A00 aluminium ingot price has dropped RMB 230/t from RMB 16,140/t on November 1 and stood at RMB 15910/t today.  After a long time A00 ingot prices have plunged below RMB 16,000/t mark.

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The drop in aluminium A00 Aluminum prices has continued in all other individual markets in China. A00 ingot prices have registered a drop from RMB 170/t to RMB 220/t across all markets. In the spot market aluminium is trading at a discount of RMB 130-90 /tonne. According to SMM SHFE Aluminium slipped by around half a per cent taking a breather after recent gains. SHFE 1801 Aluminium opened at RMB 16,350/t after closing at RMB 16,250/t yesterday.

Aluminium alloy prices also dropped across all markets following the drop in primary ingot prices. The fall in alloy prices are shown in the table below.  

Influenced by rising price of alumina in the last month, as one of the raw materials of aluminium fluoride, aluminium hydroxide prices have registered a rise in China. Fluorite, the other raw material of aluminium fluoride also surges due to short supply. Al Fluoride and Cryolite prices in China have registered a big jump yesterday. Currently ex-factory price of aluminium fluoride reaches RMB 12,000/t while the figure in September was only RMB 9,500/t.

Prebaked Anode prices in east China market have registered a rise today to RMB 4560/t.


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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