After witnessing a marginal rise from RMB 14870 per tonne to 14940 per tonne on April 23, 2018, the average A00 aluminium ingot price reversed its course to close at RMB 14480 per tonne today April 24, 2018, according to Shanghai Metal Market. The prices are expected to range between RMB 14460 per tonne and RMB 14500 per tonne, with spot discounts to settle at RMB 50 to RMB 90 per tonne.
To say the truth, aluminium ingot price has been oscillating at an interval over a period of time following the production cut at aluminium plants across the globe due to unavailability of alumina, owing to 50 per cent production curtail at Norsk Hydro’s alumina refinery. On 20th of April, 2018, the aluminium ingot price had plunged considerably from RMB 15070 per tonne to RMB 14870 per tonne and just after a day it sees a decline again across all the major Chinese markets.
In East, the price declined from RMB 14980 per tonne to RMB 14480 per tonne and in South and North, the price fell from RMB 14995 per tonne to RMB 14495 per tonne and from 14950 per tonne to RMB 14510 per tonne respectively.
On the other hand, according to another update from SMM on April 24, 2018, alumina price is on rise and attended RMB 3135 per tonne today, after a remarkable growth from RMB 2916 per tonne to RMB 3118 per tonne yesterday April 23, 2018.
As far as the input costs are concerned, alloy saw a decline today to RMB 16050 per tonne after remaining stable at RMB 16150 per tonne from April 19 to April 23, 2018. Bauxite, pre-baked anode and aluminium fluoride remain unchanged over the month and hovering at RMB 400 per tonne, RMB 3600 per tonne and RMB 10000 per tonne respectively, SMM learned.
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