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17 JULY 2019 AL CIRCLE

A00 aluminium ingot price records marginal rise in China; Input costs show restraint

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to Shanghai Metals Market, the price of A00 aluminium ingot has recorded a marginal rise by RMB 10 per tonne to stand at RMB 13,850 per tonne, as of July 17, 2019. This marks the third consecutive rise since July 15, followed by a drop on July 12 from RMB 13,800 per tonne to RMB 13,720 per tonne.

A00 aluminium ingot price records rise by RMB 10 per tonne

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Improved spot aluminium trading over the weekend as downstream consumers started restocking has buoyed the back-to-back rises in A00 aluminium ingot price this week, learned Shanghai Metals Market. But the overall sentiment of the aluminium ingot price is still found sluggish. Compared to the same period last month, the price stands low by RMB 80 per tonne. The average prices today are expected to range between RMB 13,830 per tonne and RMB 13,870 per tonne, with spot contract to be traded at a discount and premium price of RMB 20 per tonne.

Lower prices of alumina since mid-June improved margins at primary aluminium smelters and narrowed the proportion of aluminium capacity operating under losses to 20.1% in the month, an SMM survey showed. Falling prices of the feedstock reduced costs at primary aluminium smelters as well.

Shanghai Metals Market found that today’s price rise in aluminium ingot has failed to touch upon all the major cities in China. Only Tianjin, Foshan, Chongqing, Wuxi have witnessed the price hike by RMB 20 per tonne, RMB 10 per tonne and RMB 5 per tonne, respectively. Hangzhou and Shenyang have seen a decrease in price by RMB 5 per tonne, while the price in Linyi and Gongyi has remained restrained.

Red Mud Report

The prices of aluminium raw materials, including alumina, bauxite, pre-baked anode, aluminium fluoride, cryolite, and aluminium powder have shown restraint as well.    


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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