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11 MAY 2018 AL CIRCLE

A00 aluminium ingot prices surge on active buying and trading; alloy prices remain unchanged

EDITED BY : BEETHIKA BISWAS 2MINS READ

According to an SMM report, overall trading across spot aluminium markets in east and south China turned active on Thursday May 10 as downstream consumers stepped up procurement and boosted purchasing.

The SHFE 1805 contract rose to a high of RMB 14,545 per tonne from a low of RMB 14,500 tonne in the morning. SHFE 1807 contract is expected to trade within a range at RMB 14,600-14,770 per tonne. Spot prices are seen at a discount of RMB 20 per tonne to a premium of RMB 20 per tonne.

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China has registered a rise in prices of A00 aluminium ingot prices today. Primary aluminium ingot price also increased across all individual markets.

Average A00 Aluminum Ingot prices increased from RMB 14520 per tonne yesterday to stand at RMB 14,590 per tonne today on May 11.  The prices are expected to range within RMB 15,570 to RMB 15,610 per tonne. The graph below shows the growth in A00 aluminium ingot prices during last three months period.  

As updated by SMM, in east China, cargoes with May invoices mostly traded at RMB 14,500-14,520 per tonne with discounts of RMB 20-10 per tonne against the SHFE 1805 contract. Transactions in Wuxi and Hangzhou were heard at RMB 14,500-14,520 per tonne and RMB 14,520-14,540 per tonne, respectively. In Guangdong, most transactions of cargoes with May invoices were heard at RMB 14,510-14,540 per tonne with Guangdong-Shanghai price spread at around RMB 20 per tonne.

While traders were cautious considering the volatility of the prices, downstream consumers purchased more actively for the upcoming weekend than the previous day, which bolstered the trading activity slightly.

Aluminium alloy prices continue to remain flat for almost a week now as traders and buyers are investing more on aluminium ingots.  According to SMM the latest average price of Aluminum Alloys (ADC12) stood at RMB 15900 per tonne.  Aluminum Alloy (A380) prices stay unchanged at RMB 16700 per tonne.


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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