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03 AUGUST 2019 AL CIRCLE

Bauxite (6.0≤Al/Si<7.0)Shanxi price rose this week after three months; Other input costs remained downward

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

As the week has come to an end, let us once recapitulate how the aluminium market in China rolled over the entire week. Beginning from bauxite, the price of the Bauxite (6.0≤Al/Si<7.0)Shanxi recorded a growth of RMB 20 per tonne to RMB 560 per tonne on July 31, according to Shanghai Metals Market. This marked the third change in Bauxite (6.0≤Al/Si<7.0)Shanxi through the year, followed by a drop from RMB 570 per tonne to RMB 550 per tonne on January 28 and then to RMB 540 per tonne on April 24.

Bauxite price rose this week by RMB20/t

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The price of the Bauxite (6.0≤Al/Si<7.0)Henan, on the other hand, registered a plunge of RMB 30 per tonne to RMB 520 per tonne on the same day, after remaining restrained at RMB 550 per tonne from May 5 to July 30.

Other raw materials like alumina, prebaked anode, and aluminium powder registered changes in prices through the week, found Shanghai Metals Market. The average spot price of alumina recorded drop on two days this week, from RMB 2,505 per tonne to RMB 2,475 per tonne on July 30 and then to RMB 2,457 per tonne on August 1. On other days, the price remained restrained. So, throughout the week, the alumina price ranged between RMB 2,505 per tonne and RMB 2,457 per tonne.

The price of prebaked anode also dropped on August 1, from RMB 3,137 per tonne to RMB 3,112 per tonne, backed on Shandong Weiqiao Group’s lowered purchasing prices for prebaked anode to RMB 2,995 per tonne in cash for August, a decrease of RMB 50 per tonne from RMB 3,045 per tonne for July.

Prebaked anode price dropped this week

Aluminium powder price neither shied away from recording a drop in China on August 2, from RMB 17.40 per kg to RMB 17.30 per kg.

Amidst this muted sentiment in aluminium’s raw materials prices across China, the price of A00 aluminium ingot dropped on July 29 from RMB 13,940 per tonne to RMB 13,860 per tonne and then again on August 1 and August 2, from RMB 13,910 per tonne to RMB 13,830 per tonne. However, on July 30 and July 31, the ingot price recorded consecutive rises from RMB 13,860 per tonne to RMB 13,900 per tonne and to RMB 13,910 per tonne.

Red Mud Report

The reason behind the rise in A00 aluminium ingot price at the beginning of the week could be the decline in social inventories of primary aluminium on July 29, by 6,000 tonnes. But on August 1, the inventories expanded by 5,000 tonnes, leading to a decline in A00 aluminium ingot price towards the end of the week.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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