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23 FEBRUARY 2018 AL CIRCLE

A00 ingot prices gain while spot alumina falls after the Chinese New Year Holidays

EDITED BY : BEETHIKA BISWAS 2MINS READ

As reported by Shanghai Metals Market A00 ingot price has gained substantially today with the pickup of trading after the Chinese New Year Holidays. Average Aluminum Ingot prices have gained to stand at RMB 13,940 per tonne. The prices are expected to move within a range of RMB 13,920-13,960. Spot discount will range within RMB 280-240 per tonne today. 

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China’s aluminium production in January rose to 2.88 million tonnes, from 2.71 million tonnes in December. Unreported output was estimated at 310,000 tonnes in January, in line with the level seen in December, IAI data showed. This shows how aluminium producers were slowly returning to action after the environmental crackdown drives were saturated.  

Average primary ingot prices saw the biggest gain in the North China market at RMB 270 per tonne today. Today’s A00 ingot prices in the individual markets are shown in the below table:

Aluminum Alloys (ADC12) prices and Aluminum Alloy(A356) and aluminum Alloy(A380) prices have also gained following the gain in primary ingot prices. 

SMM expected alumina prices to rally ahead of the Chinese New Year holiday in mid-February before downward pressure returns. However, spot alumina price in China continued struggling to stay afloat in the face of slow demand. After the Chinese New Year holidays, average alumina price dropped as expected and today’s price stands at RMB 2841 per tonne. The drop was driven by a fall in spot alumina price in North China market to RMB 2810 per tonne.  Chalco Alumina and imported alumina prices remain unchanged today.

 


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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