China’s A00 aluminium ingot price falls sharply for the third consecutive day below RMB22000/t

According to the Shanghai Metals Market, A00 aluminium ingot price in China has continued to plunge for the third consecutive day to stand below RMB 22,000 per tonne. Data shows the price has come in at RMB 21,500 per tonne, reflecting a decrease of RMB 560 per tonne from RMB 22,060 per tonne on March 9. The average prices are likely to range between RMB 21,480 per tonne and RMB 22,520 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne.

In Foshan, A00 aluminium ingot price has plummeted by RMB 590 per tonne to stand at RMB 21,430 per tonne, followed by the decline of RMB 560 per tonne in Wuxi, Chongqing, and Shenyang to peg at RMB 21,490 per tonne, RMB 21,400 per tonne, and RMB 21,540 per tonne, respectively. In Hangzhou, Tianjin, and Linyi, primary aluminium ingot price has shrunk by RMB 550 per tonne to RMB 21,500 per tonne, RMB 21,540 per tonne, and RMB 21,600 per tonne.

Low-carbon aluminium price in China has also witnessed a sharp fall for the third day in a row by RMB 580 per tonne to stand at RMB 22,033 per tonne, found SMM.

The ongoing strong wait-and-see sentiment in the downstream sector for metal consumption leading to the rise in inventories could be one of the main causes for the downfall in aluminium ingot price.

Aluminium alloy (A356) price has nosedived by RMB 500 per tonne to RMB 23,100 per tonne on March 10, with average prices likely to range between RMB 23,000 per tonne and RMB 23,200 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have shrunk by RMB 200 per tonne to RMB 22,400 per tonne and RMB 23,400 per tonne, respectively.

Among primary aluminium input costs, the average alumina spot price has dropped by RMB 3 per tonne to settle at RMB 2,975 per tonne. In Guangxi and Guizhou, alumina price has decreased by RMB 20 per tonne and RMB 10 per tonne to close at RMB 2,935 per tonne and RMB 2,965 per tonne, respectively.