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24 OCTOBER 2018 AL CIRCLE

A00 aluminium ingot price rises in China against provincial environment checks Oct-Nov

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the latest update from Shanghai Metals Market, the A00 aluminium ingot price again sees a rise today, on October 24, after a slight drop in the previous day. Today, the ingot price is hovering at RMB 14190 per tonne in contrast to RMB 14110 per tonne yesterday. Hence, this marks a growth by RMB 80 per tonne. The average prices are expected to range between RMB 14170 per tonne and RMB 14210 per tonne, with spot discounts reduced by RMB 10 per tonne to RMB 70 per tonne to RMB 30 per tonne.

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The rise is seen despite the cost restraint of alumina at RMB 3040 per tonne from October 18 to October 23, SMM found.

However, bauxite price on the other hand, according to the last update on SMM on October 22, has seen a rise and hovering at RMB 590 per tonne. Other input prices such as pre-baked anode, aluminium fluoride, and aluminium powder have registered no change today and settled at RMB 3675 per tonne, RMB 11,100 per tonne, and RMB 17.85 per tonne, respectively.

Today, the rise in aluminium ingot price has touched all the major markets in China, SMM learned. The markets in the east have climbed by RMB 80 per tonne, while that in south and north have inched up by RMB 90 per tonne and RMB 100 per tonne.

In the east, the ingot price is hovering at RMB 14190 per tonne; and in the south and north, the prices are hovering at RMB 14220 per tonne and RMB 14210 per tonne.

This rise in ingot price may continue as environmental checks for winter heating season have already started in some parts of China. Nine provincial inspection teams in Henan province will visit 18 cities from October 23 to the end of November, to conduct a check of their previous environmental rectification works, provincial authorities announced on Tuesday, October 23. 

Inspections will be conducted across two sessions. The first session started on October 23, covering the cities of Kaifeng, Luohe, Zhumadian, Zhoukou, Xinyang, Nanyang, Luoyang, Sanmenxia, and Jiaozuo. The second session will begin at the start of November and cover the other nine cities, Pingdingshan, Xuchang, Zhengzhou, Shangqiu, Anyang, Puyang, Xinxiang, Hebi, and Jiyuan.  

But now it is to see if the ingot price can touch the high mark of 14820 per tonne, as of August 29, 2018, during the winter heating season.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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