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18 APRIL 2018 AL CIRCLE

A00 aluminium ingot price sees no further change, while alumina registers a hike

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

After the stupendous surge in average A00 aluminium ingot price from RMB 14450 per tonne to RMB 14720 per tonne on April 17, 2018 on the occasion of aluminium production rise to 8.12 million tonnes in China in the first quarter of 2018, it again remained unchanged on April 18, 2018, Shanghai Metal Market learned. Like the previous day, the prices are expected to range between RMB 14700 and RMB 14740 per tonne, with a slight swing in spot discounts to settle at RMB 70 to RMB 30 per tonne.

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However, a few major markets in China have registered slight changes on the positive note, including East, South and North, wherein the aluminium ingot prices witnessed a growth to RMB 14715 per tonne from RMB 14690, RMB 14720 per tonne from RMB 14685, and RMB 14730 per tonne from RMB 14720 respectively. This overall price growth in China is likely being considered to be a consequence of aluminium production rise in Q1 after the end of temporary production halt during the winter heating season plus the US sanctions on Russian aluminium companies including Rusal.

The downstream market, on the other hand, marked a strong footing on April 18, 2018, according to an update from SMM. Alumina price continues registering a growth since the beginning of the week to close at RMB 2863 per tonne, up from RMB 2828 per tonne on April 17, 2018, with an overall hike in major Chinese markets from RMB 10 to RMB 40 per tonne.

Output costs including alloys, bauxite and pre-baked anode, however, remain unchanged on April 18 from the previous day.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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