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28 SEPTEMBER 2018 AL CIRCLE

Aluminium billet inventories in China inch up on limited restocking; Alloy price registers a drop

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Aluminium billet inventories have extended their growth further on less than expected restocking across the major Chinese consumption areas, found Shanghai Metals Market. As of September 27, the stocks of 6063 aluminium billet were seen at 117,200 tonnes after inching up by 1,000 tonnes from 116,200 tonnes on September 20.

Consequently, aluminium alloys (ADC12) price are reportedly shrinking over the past two days, learned SMM. Yesterday, on September 27, aluminium alloys (ADC12) price had dropped to RMB 15600 per tonne while today, September 28, the price further dipped by RMB 50 per tonne to RMB 15550 per tonne.

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Aluminium alloy (A356) today is hovering at RMB 15000 per tonne after registering a plunge by RMB 10 per tonne from the previous day, and aluminium alloy (A380) is at RMB 16300 per tonne after being slipped by RMB 50 per tonne.

A consistent drop in A00 aluminium ingot price over the past couple of days could also be attributable to the lowered price of aluminium alloy.

Today, on September 28, aluminium ingot price has recorded a plunge by RMB 160 per tonne to stand at RMB 14270 per tonne. The average prices are expected to range between RMB 14250 per tonne and RMB 14290 per tonne, with spot discounts to settle at RMB 40 per tonne.

While in the east, the ingot price has clocked at RMB 14275 per tonne; in the south and north, the prices are at RMB 14340 per tonne and RMB 14330 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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