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17 APRIL 2018 AL CIRCLE

Average A00 aluminium ingot price surged on rising aluminium production

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

On 0.3 per cent increase in aluminium production over past three months this year totalling 8.12 million tonnes in China, average A00 aluminium ingot price surged once again across all major Chinese markets and closed at RMB 14720 per tonne after remaining unchanged at RMB 14450 from April 13 to April 16, 2018, according to Shanghai Metal Market on April 17, 2018.  The prices are expected to range between RMB 14700 and RMB 14740 per tonne, with spot discounts to settle at RMB 60 to RMB 20 per tonne. Prices registered a growth from RMB 50 per tonne to RMB 270 per tonne across all markets. While in East, the ingot price jumped from RMB 14455 per tonne to RMB 14690 per tonne; in North, the price registered a hike from RMB 14440 per tonne to RMB 14720 per tonne, as on April 17, 2018.

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Although the yearly increase of aluminium production has slowed down in China, owing to supply-side reforms and winter capacity cuts, yet this slight rise reported a positive sentiment across the China market.

According to SMM, alumina price also climbed from RMB 2764 per tonne on April 16, 2018 to RMB 2828 per tonne on April 17, 2018. While in East, the price rose from RMB 2770 to RMB 2840 per tonne; in Central, the price jumped from RMB 2760 to RMB 2830 per tonne. North and South markets also registered a hike totalling RMB 2830 per tonne, up from RMB 2760 and RMB 2810 per tonne, up from RMB 2775.

On the other hand, output costs neither failed to register a growth amid aluminium production rise and overall buoyant sentiment in the market. Alloys price rose to RMB 16050 per tonne, pre-baked anode price increased to RMB 14690 per tonne, while bauxite remains unchanged at RMB 400 since the end of previous month.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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