China market has reopened yesterday October 9 on a bullish note after the week-long Chinese National day holiday. According to Shanghai Metals Market update, SHFE base metals mostly opened higher yesterday. A00 Aluminium Ingot prices were up across all major markets after the holidays.
The average price of A00 Aluminium Ingot today increased further to stand at RMB 16,260/t, up from RMB 16,220/t on October 9. The average price of A00 Aluminium Ingot would range between RMB 16,240 – 16,280/tonne. A00 Aluminium Ingot in spot China market is trading at discounts of RMB 220 - 180/t after resumed trading.
Today’s aluminium A00 Aluminum prices across the various markets in China are presented in the table below:
Prices of some of the Aluminium alloy ingot grades in specific Chinese markets have seen a rise today simultaneously with the rise in A00 aluminium ingot prices. Average price of Aluminum Alloy (ADC12) in West China market has increased RMB 50/tonne to RMB 16400/tonne today. Aluminum Alloy (ZLD102 and 104) and Aluminum Alloy(A356) have also seen an increase of RMB 50/tonne each to stand at RMB 17000/tonne, RMB16950/tonne and RMB16950/tonne respectively.
In another update from SMM, Henan Energy Tongren Aluminium launched the aluminium alloys casting & deep-processing project with an annual capacity of 600 thousand tonnes in Sanmenxia demonstration area. The project has an estimated total investment of RMB 5.886 billion and the annual capacity of first stage of this project would be 300 thousand tonnes.
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