A00 aluminium ingot price slips by RMB30/t after a week-long Chinese New Year break

The Shanghai Metals Market opened today after almost a week-long Chinese New Year Holiday from February 4 to February 10 with a drop in A00 aluminium ingot price. Registering a dip by RMB 30 per tonne, the ingot price today, on February 11, stood at RMB 13,270 per tonne, according to the data found by SMM. The average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot discounts to settle at RMB 120 per tonne to RMB 80 per tonne. The average discount thus found dipped by RMB 40 per tonne to RMB 100 per tonne.

This marked the second decline this month as the price of the ingot recorded a reduction from RMB 13,390 per tonne to RMB 13,300 per tonne on February 1, just before the SMM went on the Chinese New Year break.

  The aluminium ingot price in the east (Wuxi and Hangzhou), dropped RMB 65 per tonne and RMB 35 per tonne and stood at RMB 13,270 per tonne and RMB 13,280 per tonne, respectively. The average price in Wuxi is expected to be at RMB 13,260 per tonne to RMB 13,280 per tonne while that in the Hangzhou to be between RMB 13,270 per tonne and RMB 13,290 per tonne. In the south and north, on the other hand, the ingot prices decreased by RMB 30 per tonne and RMB 60 per tonne to hover at RMB 13,300 per tonne and RMB 13,250 per tonne. The average prices in the south are expected to range between RMB 13,280 per tonne and RMB 13,320 per tonne while that in the north between RMB 13,240 per tonne and RMB 13,260 per tonne.

The input costs like that of alumina, bauxite, the pre-baked anode, and aluminium fluoride recorded no change as of today. The alumina spot price continued being at RMB 2808 per tonne, bauxite at RMB 550 per tonne, the pre-baked anode at RMB 3,457 per tonne, and aluminium fluoride at RMB 12,100 per tonne.