A00 ingot prices continue to stay low in China, no major change in raw material prices today

The zigzag movement of the A00 ingot price graph is continuing and it is still struggling with climbing inventory and slow consumption. According to Shanghai Metals Market, average A00 ingot price saw another drop today to stand at RMB 14420 per tonne and expected to move within a range of RMB 14,400-14,440. Spot discount will range within RMB 170-130 per tonne today. Aluminium ingot prices registered a drop in all individual markets in China except the South China and North China market. 

Average spot alumina prices have registered a slight drop to stand at RMB 2864 per tonne today. In East China Market alumina prices registered a rise and in Central China it saw a fall. Chalco and imported alumina prices remain unchanged and so are other domestic spot markets.

Bauxite (4.5≤Al/Si＜5.5) and Bauxite (6.0≤Al/Si＜7.0) prices in Shanxi province have registered a drop to RMB 300 and RMB 370 per tonne respectively. Imported bauxite CIF China remains unchanged.

In another update from SMM, China aims to further restructure the coal industry and reduce capacity by more than 10 million tonnes in 2018. Capacity cut efforts will also be reinforced in the nonferrous metals, ship building and coal-fired power industries. This is expected to tighten supply of coal and support aluminium price later in 2018.   

Prebaked anode prices remain unchanged in China today. Average prices of aluminium alloys have registered no change in all markets today after two consecutive drops.