A00 ingot prices show restraint buoyed by the news of first increase in China's GDP growth in seven years

After three consecutive drops, A00 ingot price graph is registering some upward movement.  According to Shanghai Metals Market, average A00 ingot price registered some gain today to stand at RMB 14450 per tonne. The prices are expected to move within a range of RMB 14,430-14,470. Spot discount will range within RMB 220-180 per tonne today. Aluminium ingot prices registered gain in all individual markets in China.  In the North China market A00 ingot prices dropped to RMB 14,465 per tonne today.  

It is noteworthy that, according to data from the state statistics bureau of China, published on Thursday January 18, the country produced 2.71 million tonnes of aluminium last month, down 1.8% YoY.  Full-year output in 2017 was 32.27 million tonnes, up 1.6% from 2016. This has generated moderately positive sentiments in the market pushing up the prices. Shanghai aluminium prices were further buoyed by the first acceleration in China's GDP growth in seven years,

As for major raw materials are concerned, average spot alumina prices have registered no change and stood at RMB 2864 per tonne today. 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. Prebaked anode prices also remain unchanged today.