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26 FEBRUARY 2024 AL CIRCLE

China’s A00 aluminium ingot price dumps RMB170/t over the weekend, standing at 2.2% lower M-o-M

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

On Monday, February 26, China’s domestic A00 aluminium ingot price shed off RMB 170 per tonne over the weekend to reach RMB 18,700 per tonne, found the Shanghai Metals Market data. The average prices are expected to range between RMB 18,680 per tonne and RMB 18,720 per tonne, with a spot contract to be traded at a discount price of RMB 50-10 per tonne.

China’s A00 aluminium ingot price dumps RMB170/t over the weekend, standing at 2.2% lower M-o-M

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Compared to the same period last week, today’s domestic aluminium ingot price stands 0.64 per cent lower than 18,820 per tonne. Similarly, on a month-on-month basis, the price has registered a plunge of 2.2 per cent from RMB 19,120 per tonne.

A00 aluminium ingot prices in Foshan and Hangzhou also declined by RMB 170 per tonne over the weekend to stand at RMB 18,790 per tonne and RMB 18,700 per tonne, respectively. In Gongyi and Wuxi, the prices witnessed a fall of RMB 160 per tonne, standing at RMB 18,610 per tonne and RMB 18,710 per tonne, while the prices in Chongqing and Shenyang declined by RMB 150 per tonne and RMB 140 per tonne to come in at RMB 18,700 per tonne and RMB 18,750 per tonne.

China’s domestic low-carbon aluminium price shrunk RMB 180 per tonne on February 26, starting the week at RMB 18,605 per tonne. The high-purity aluminium (99.99%) price descended by RMB 200 per tonne to settle at RMB 26,100 per tonne, with average prices estimated to range between RMB 25,600 per tonne and RMB 26,600 per tonne.

In tandem with the A00 aluminium ingot price fall on February 26, aluminium alloy prices registered declines on the same day. According to SMM, aluminium alloy (ADC12) price let go of RMB 100 per tonne to stand at RMB 19,900 per tonne. The average prices would likely range between RMB 19,800 per tonne and RMB 20,000 per tonne.

Aluminium alloy (A380) price also contracted by RMB 100 per tonne to stand at RMB 20,900 per tonne as of February 26, with average prices to range between RMB 20,800 per tonne and RMB 21,000 per tonne.

According to SMM, aluminium alloy (A356) price recorded a plunge of RMB 200 per tonne to close at RMB 19,300 per tonne on February 26. The average prices would hover around RMB 19,100 per tonne and RMB 19,500 per tonne.

Among primary aluminium input costs, aluminium powder price dropped by RMB 0.20 per kg to initiate the week at RMB 21.1 per kg as of February 26.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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