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31 AUGUST 2018 AL CIRCLE

China shut 730,000 tonnes of primary aluminium capacities; ingot price extends plunge

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Shanghai Metals Market research found that some 730,000 tonnes of primary aluminium capacities across China closed during June-August because of high costs and relatively low prices of aluminium.


Capacities belonged to five aluminium manufacturers, including Shaanxi Tongchuan Aluminum, Lanzhou Liancheng Aluminium, and Shandong Zouping Aluminium.

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Data also showed that about 900,000 tonnes of primary aluminium capacities have been permanently shut so far this year.

According to SMM, the A00 aluminium ingot price has again extended a plunge today, August 31, by RMB 40 per tonne to stand at RMB 14770 per tonne. The spot discounts climbed RMB 10 per tonne and settled at RMB 70 to 30 per tonne. The average prices are expected to range from RMB 14750 per tonne and RMB 14790 per tonne today.

In the east market, the A00 aluminium ingot price dropped RMB 50 per tonne from RMB 14830 per tonne, as on August 30, to RMB 14775 per tonne on August 31. In the south, the ingot price dipped RMB 50 per tonne to stand at RMB 14880 per tonne while in the north, the price decreased by RMB 35 per tonne to conclude at RMB 14735 per tonne.


As far as the input cost is concerned, alumina spot price has registered no change today and continued at RMB 3288 per tonne. Since the beginning of this week, the alumina spot price remained range-bound between RMB 3261 per tonne and RMB 3288 per tonne. 


Even in the major Chinese markets including the east, north, and south, the alumina spot prices showed restraint today at RMB 3325 per tonne, RMB 3320 per tonne, and RMB 3160 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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