China aluminium alloy prices drop following price declines in A00 aluminium ingots

The prices of two major aluminium alloy varieties in China fell on Friday, June 30, after yesterday’s rise due to slack demand in the end user markets. The average prices of aluminium alloy (A380) and aluminium alloy (A356) currently stand at RMB 15,400 and RMB 14,400 per tonne respectively.

The average price of aluminium alloy (A380) has registered a gradual fall from RMB 15,750 per tonne on May 31 to RMB 15,400 per tonne presently. The price slide of 2.22 per cent can be explained in terms of temporary demand drop in the domestic end user markets. The aluminium alloy commodity had briefly gained on June 29 as it rose to RMB 15,500 per tonne, up 0.32 per cent from its previous close at RMB 15,450 per tonne. It lost the gains by 0.65 per cent to settle at around RMB 15,300-15,500 per tonne on June 30.

The price of aluminium alloy (A356) is hovering at the range of RMB 14,350-14,450 per tonne. As on June 30, the average price of the commodity stands at RMB 14,400 per tonne, down 0.69 per cent from its previous close of RMB 14,500 per tonne on June 29.

The slide in Chinese aluminium alloy prices seems to be following the downtrend in A00 aluminium ingot. The primary aluminium commodity is trending low across major China markets. The average price stands at around RMB 13,710 per tonne.

{googleAdsense}

The highest A00 Aluminium Ingot price registered as on June 30 for South China is RMB 13,780 per tonne. The price drop has been highest for A00 Aluminium Ingot in Southwest China market. The current average price of the commodity stands at RMB 13,730 per tonne, down 0.94 per cent from its previous closing price.