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25 APRIL 2023 AL CIRCLE

China's A00 aluminium ingot price declines for the third day by RMB70/t despite continued inventory fall

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

According to the Shanghai Metals Market data, A00 aluminium ingot price has fallen for the third day despite sluggish primary aluminium inventories across China. Then what could be the reason behind the price fall? Well, weaker metal consumption by downstream producers could be a factor for the decline in price. On Tuesday, April 25, the primary aluminium ingot price has dwindled by RMB 70 per tonne to peg at RMB 18,830 per tonne. The average prices are estimated to range between RMB 18,810 per tonne and RMB 18,850 per tonne, with a spot contract to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne.

A00 aluminium ingot price declines for the third day by RMB70/t despite continued inventory fall

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On a week-on-week basis, the price is down by RMB 30 per tonne from RMB 18,860 per tonne. But on a month-on-month calculation, the price reflects the growth of RMB 510 per tonne from RMB 18,320 per tonne, shows SMM.

In Hangzhou, A00 aluminium ingot price has plunged by RMB 190 per tonne to stand at RMB 18,860 per tonne, followed by a fall of RMB 100 per tonne in Linyi to RMB 18,880 per tonne. In Gongyi and Wuxi, the primary aluminium ingot price has declined by RMB 80 per tonne and RMB 75 per tonne to peg at RMB 18,730 per tonne and RMB 18,825 per tonne, while the price in Shenyang and Tianjin has decreased by RMB 70 per tonne and RMB 50 per tonne to come in at RMB 18,860 per tonne and RMB 18,870 per tonne. In Foshan and Chongqing, A00 aluminium ingot price has dropped by RMB 60 per tonne, amounting to RMB 18,960 per tonne and RMB 18,930 per tonne, respectively.

The domestic price of low-carbon aluminium has also recorded a fall of RMB 60 per tonne to clock at RMB 19,515 per tonne as of April 25.

In line with A00 aluminium ingot price, aluminium alloy (A356) price has decreased by RMB 100 per tonne, marking the third day of decline. SMM survey shows the price has pegged at RMB 19,700 per tonne.

On the other hand, aluminium alloys (ADC12) price and aluminum alloy (A380) price have slipped by RMB 50 per tonne, totalling RMB 19,250 per tonne and RMB 20,250 per tonne, respectively.

Among primary aluminium input costs, aluminium powder price has inched down by RMB 0.10 per tonne, standing at RMB 20.8 per kg. The average prices are likely to range between RMB 20.7 and 20.9 per kg.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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