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08 AUGUST 2018 AL CIRCLE

A00 ingot price shows restraint against narrow aluminium trading activity in south China

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the latest update by Shanghai Metals Market, south China on Tuesday, August 7, saw a narrow trading activity in the spot aluminium market, though slightly better than the previous day. But the SHFE August contract edged lower in the morning,

 Most transactions in Guangdong were heard at RMB 14440 per tonne to RMB 14450 per tonne, with the Guangdong-Shanghai price spread narrowed to RMB 150 per tonne. However, sellers across the region remained keen to offload their cargoes and some traders showed a little buying interest and made purchases as per the demand.

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A00 aluminium ingot price showed no significant move against the thin trading on August 7 except being plunged by RMB 10 per tonne from the previous day to stand at RMB 14290 per tonne. On August 8, the price remained the same, with the average expected prices to range between RMB 14270 per tonne and RMB 14310 per tonne. The spot prices are estimated to settle at RMB 60 per tonne to RMB 20 per tonne.

Ingot price in the east market, on the other hand, recorded a surge in the past two consecutive days. On August 7, the price climbed RMB 10 from RMB 14285 per tonne to RMB 14295 per tonne, followed by a further rise to RMB 14305 per tonne on August 8. In south and north, the ingot prices declined on August 7 from RMB 14445 per tonne to RMB 14435 per tonne and from RMB 14300 per tonne to RMB 14290 per tonne respectively; while on August 8, the price stood at RMB 14435 per tonne in south after plunging RMB 10 per tonne and in north, the price remained the same.

As far as the downstream sector is concerned, processing fees for aluminium billet in Guangdong extended their declines as the trading was lacklustre. Fees for 90 mm materials were at RMB 420-460 per tonne, while fees for 120 mm and 150/178 mm products were at RMB 400-440 per tonne and at RMB 350-400 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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