A00 aluminium ingot prices drop in major China markets; destocking picks up in off-season

The prices of A00 Aluminium Ingot fell across major China markets on Tuesday, June 27, following the slump in LME aluminium prices. Average price drop was recorded at around 0.7 per cent. The highest average price stood at RMB 13,725 per tonne in South China Market.

For the revised price details, please see the below table:

Unit: RMB per tonne

The average price of A00 Aluminium Ingot in North China market has plunged from RMB 13,710 per tonne on June 26 2017 to RMB 13,625 per tonne on June 27. A00 Aluminium Ingot price in South China market has dropped from RMB 13,830 per tonne on June 26 to RMB 13,725 per tonne on June 27. 

The average price of A00 aluminium ingot in East China market (Zhejiang) currently stands at RMB 13,595 per tonne and in Jiangsu province, at RMB 13,590 per tonne.

In the Northeast China market, the average price has dropped from RMB 13,705 per tonne on June 26 to RMB 13,605 per tonne on June 27. In the Southwest China market, the average price currently stands at RMB 13,635 per tonne, down 0.62 per cent from the previous price.

A00 Aluminium Ingot in spot China market is trading at discounts-premium of RMB 150-110 per tonne.

Aluminium ingot stocks in five major markets in China: Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi, fell at a faster rate last week, despite the ongoing off-season, Shanghai Metals Market reported. Stocks totalled 1.19 million tonnes as of June 23, down 17,000 tonnes from June 16.  

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SMM shared an optimistic forecast about China aluminium market. Assuming that aluminium consumption would grow at an average annual average rate of 8.5 per cent, the market is likely to enter a supply-demand balance by 2019, SMM statistics showed.