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13 DECEMBER 2017 AL CIRCLE

A00 ingot prices show some restraint in China today, slightly up in major domestic markets

EDITED BY : BEETHIKA BISWAS 2MINS READ

Nonferrous metals trading on the SHFE was supported by bullish news yesterday and the upward momentum in the morning continued in the afternoon. After constantly falling since the winter cut started in November, A00 ingot prices in China started showing some upward movements in the first few days of December to fall again by the end of the first week.

Average A00 ingot price remains unchanged today at RMB 13,920/t. As updated by Shanghai Metals Market, the primary ingot prices registered some increase in the domestic markets.  The price is expected to range within RMB 13910 – 13950 per tonne.

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The positive movement in A00 Aluminum prices have continued in all other individual markets in China.  The below table shows the price increase in major Chinese markets:

The existing surplus market despite production cut remains a concern for the analysts. The bears and bulls look set to hold on to their positions with current aluminium prices. SMM recommends a wait-and-see approach. 

Aluminum Alloys (ADC12) prices remain unchanged at RMB 15800/t after the drop at the end of the first week of December.

As for the major raw materials are concerned, as updated by Shanghai Metals Market, average spot alumina price in China has dropped from RMB 3062 per tonne on December 12 to RMB 3012 per tonne on December 13. Domestic spot alumina prices have also dropped to RMB 3020/t today from RMB 3060/t on December 12.  Chalco alumina prices and imported alumina prices remain unchanged at RMB 3320 and RMB 3600 per tonne despite the drop in domestic prices. Other raw materials like bauxite and prebaked anode remain unchanged.


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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