A00 ingot prices drop across all major China markets after rallying yesterday on capacity cut news

<p>The China aluminium market is fluctuating almost every day over the uncertainty regarding the current aluminium capacity cut in the country. The average prices for A00 ingot dropped across all major China markets (North, South, East, North-East and South-West) on August 2 after a quick boost the day before.&nbsp;</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart%20(28).jpeg" alt="News" width="517" height="226" /></p> <p>Among the domestic markets, the average price for A00 Aluminium Ingot for North China market has dropped to RMB <strong>14,210/t</strong>. In the South China market the price dropped to RMB <strong>14,285/t. </strong>The price gap between the two market increased toRMB <strong>75/t. </strong></p> <p>The prices Zhejiang and Jiangsu provinces in East China market were down to RMB<strong>14,240/t and </strong>RMB<strong>14,210/t </strong>respectively<strong>. </strong></p> <p>For the Southwest China market, the price increased to <strong>RMB </strong><strong>14,230/t</strong> and for Northwest China market it stood at RMB<strong>14,185/t</strong>.</p> <p><a title="Report7" href="http://www.alcircle.com/exclusivereport/?m=exclusivereport" target="_blank"><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Report1banner.gif" alt="Report7" width="480" height="82" /></a></p> <p>A00 Aluminium Ingot in spot China market is trading at discounts of RMB<strong> 1</strong><strong>80 - 140/t.</strong></p> <p>The A00 Aluminium prices are expected to gain today based on the news in the market that China Hongqiao Group will shut down 2.6 million tonnes of aluminium capacity before October. The price movements would be determined by the news of capacity cuts by the aluminium heavyweights in China.</p> <p>Aluminium alloy prices (A380 and A356) remain flat in China as of today. Raw material prices remain flat around all china market.</p> <p>&nbsp;</p>