A00 ingot prices register a slight gain today, expected to pick up with the approach of high season

With the growing domestic aluminium inventory and slow demand, both alumina and aluminium prices in China registered fall yesterday.  However, China has registered a rise in prices of A00 aluminium ingot prices today. Primary aluminium ingot price also increased across all markets.

Average A00 Aluminum Ingot prices increased from RMB 13,960 per tonne to stand at RMB 14,060 per tonne.  The prices are expected to range within RMB 14,040 to RMB 14,080 per tonne and spot discounts are expected to settle at RMB 150 to 110 per tonne.

In an update from SMM, China's social inventory of refined aluminium including SHFE warrants amounted to 2.19 million tonnes as on Monday March 5, according to data. This is up from 2.13 million tonnes recorded on Thursday March 1. Primary ingot prices registered an increase of RMB 50 to 110 per tonne across all domestic markets. The primary ingot prices pick up in the short term as downstream demand is expected to increase with the approach of high season.   

At the week’s beginning, bauxite (6.0≤Al/Si＜7.0) prices at Shanxi gained today to RMB 360 per tonne and Bauxite (6.0≤Al/Si＜7.0) prices at Henan dropped to RMB 415 per tonne. Bauxite (6.5≤Al/Si＜7.5) prices at Guizhou dropped to RMB 295 per tonne. Alumina prices remain unchanged today after a drop across all markets yesterday. Aluminum Alloy(A356) prices increased to RMB 14750 per tonne.