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11 APRIL 2018 AL CIRCLE

Average A00 aluminium ingot price rose further while alloys price remained steady: SMM learned

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Average A00 aluminium ingot price seems to be on a rising spree amidst an overall positive sentiment in the China market, where there’s a balance forming between production and consumption resulted in aluminium inventory and output plunge and input costs’ steady escalation. After a sharp rise from RMB 14080 per tonne to RMB 14200 per tonne yesterday April 10, 2018, Shanghai Metal Market research found a further hike of average A00 aluminium ingot price to RMB 14230 per tonne today April 11, 2018. The prices are expected to range between RMB 14210 and RMB 14250 per tonne with spot discounts to settle at RMB 110 to RMB 70 per tonne.

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This on-going week has been showing a great growth of average aluminium ingot price ranged between RMB 14080 per tonne and RMB 14230 per tonne against the last week when the price was hovering between RMB 13740 and 13960 per tonne, before Qingming festival.

In the East China market including Wuxi City and Jiangsu, the aluminium ingot price rose from RMB 14190 per tonne, as on April 10 2018 to RMB 14215 per tonne on April 11, 2018, while in South like Guangdong province, the price jumped from RMB 14, 250 to RMB 14260 per tonne.

Aluminium alloys, on the other hand, is neither lagging behind as far as the price is concerned. It has started witnessing a sharp hike since the beginning of the month. On April 2, 2018, the alloys price jumped from RMB 15,650 to RMB 15,700 per tonne followed by RMB 15800 per tonne on April 3 and RMB 15850 per tonne on April 9, and since then the price has been standing steady with no further fluctuations till date.

According to SMM, other input costs including alumina, bauxite and pre-baked anode are also rising or showing stability with no further shrink. While alumina rose from RMB 2729 to RMB 2731 per tonne today, bauxite and pre-baked anode are standing at RMB 400 per tonne and RMB 13625 per tonne since the end of the previous month respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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