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25 NOVEMBER 2020 AL CIRCLE

China’s A00 aluminium ingot price exceeds RMB16000/t on higher market demand; Aluminium alloys(ADC12) price grows by RMB100/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

China’s A00 aluminium ingot price has outshone the level of RMB 16,000 per tonne on Wednesday, November 25, found the Shanghai Metals Market. Soaring by RMB 190 per tonne, the primary aluminium ingot price has come in at RMB 16,120 per tonne today, with average prices expected to range between RMB 16,100 per tonne and RMB 16,140 per tonne. The spot contract is likely to be traded at a premium price of RMB 90-130 per tonne, down by RMB 10 per tonne from November 24.

China’s A00 aluminium ingot price exceeds RMB16000 per tonne on November 25

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Restriction on aluminium scrap imports by China has fuelled the use of domestic primary aluminium, resulting in higher consumption and lower inventories. As a consequence, the domestic primary aluminium ingot price has significantly grown by RMB 1290 per tonne in less than a month.

Among the major Chinese cities, Foshan and Wuxi have seen the highest growth in primary aluminium ingot price today of RMB 180 per tonne to RMB 16,250 per tonne and RMB 16,130 per tonne, respectively. In Gongyi and Hangzhou, the price has increased by RMB 170 per tonne to RMB 15,980 per tonne and RMB 16,150 per tonne, followed by the hike of RMB 165 per tonne in Shenyang to RMB 16,055 per tonne. In Chongqing, Tianjin, and Linyi, A00 aluminium ingot price has climbed by RMB 160 per tonne to stand, respectively, at RMB 16,090 per tonne, RMB 16,060 per tonne, and RMB 16,140 per tonne.

The prices of aluminium alloys have also grown today, according to SMM. Aluminium alloys (ADC12) price has surged by RMB 100 per tonne to stand at RMB 15,800 per tonne on November 25. The average prices are expected to range between RMB 15,700 per tonne and RMB 15,900 per tonne. This marks an increase for the second consecutive day.

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The prices of aluminium alloy (A356) and aluminium alloy (A380) are hovering at RMB 16,800 per tonne and RMB 16,700 per tonne, respectively, by also increasing by RMB 100 per tonne.

Aluminium input costs have, however, remained restrained, except for the price of aluminium powder. The latter has grown by RMB 0.20 per kg to come in at RMB 19.65 per kg on November 25.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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