Aluminium ingot prices record change in northern Chinese markets; average ingot price shows restraint

Today, on March 6, the aluminium price as well its raw materials’ on Shanghai Metals Exchange seem to have decided to mark the day with no movements, neither upward nor downward. To start with, the A00 aluminium ingot price is found to continue at RMB 13,700 per tonne, since when it jumped from 13,630 per tonne yesterday. The average prices of the ingot are expected to range between RMB 13,680 per tonne and RMB 13,720 per tonne, with spot discounts to settle at RMB 50 per tonne to RMB 10 per tonne. This shows the spot price has increased, however, by RMB 10 per tonne from yesterday.

On the other hand, while most of the major markets in China have also determined to record no change in the A00 aluminium ingot price today, the markets in the north and northeast display a little exception as the ingot prices there slip down by RMB 10 per tonne to RMB 13,670 per tonne and also climb up by RMB 5 per tonne to RMB 13,690 per tonne. The markets in the east (Wuxi and Jiangsu) and in the south are still hovering at RMB 13,690 per tonne and RMB 13,710 per tonne respectively, as of yesterday.

The alumina spot price also shows restraint by continuing being at RMB 2,749 per tonne today. The average price is expected to be at RMB 2,749 per tonne too. Even in the major markets across China, the alumina price shows no further movement after yesterday.

No change is even found in the Australian alumina FOB price today. In fact, it is hovering at US$390 per tonne since the beginning of the month.

Other input costs seem to have preferred to follow the trend today as they have shown no movement. The prebaked anode is hovering at RMB 3,350 per tonne, aluminium fluoride at RMB 10,500 per tonne, and aluminium powder at RMB 17.20 per kg.