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23 NOVEMBER 2020 AL CIRCLE

China’s A00 aluminium ingot price grows closer to RMB16000/t; Alumina price declines to RMB2279/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

A00 aluminium ingot price has grown by RMB 50 per tonne to stand closer to RMB 16,000 per tonne, as of Monday, November 23. Shanghai Metals Market data shows the primary aluminium ingot price today is hovering at RMB 15,980 per tonne, with average prices expected to range between RMB 15,960 per tonne and RMB 16,000 per tonne. Robust demand for primary aluminium among downstream consumers and continuous decline in inventories are attributing to the increases in A00 aluminium ingot price. Spot contract today is estimated to be traded at a premium price of RMB 100-140 per tonne.

China’s A00 aluminium ingot price grows closer to RMB16000/t

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Among the major Chinese cities, Linyi has seen the highest growth of primary aluminium ingot price today by RMB 150 per tonne to RMB 16,030 per tonne, followed by the rise in Foshan by RMB 110 per tonne to RMB 16,050 per tonne and in Tianjin by RMB 100 per tonne to RMB 15,930 per tonne.

The price of aluminium alloy (A356) has grown by RMB 100 per tonne to come in at RMB 16,700 per tonne, as of November 23, found SMM. The average prices are expected to range between RMB 16,650 per tonne and RMB 16,750 per tonne.

However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained, respectively, at RMB 15,650 per tonne and RMB 16,550 per tonne.

Coming to the input costs, average alumina spot price has begun the week on Monday, November 23, with a slight dip of RMB 1 per tonne to RMB 2,279 per tonne after remaining restrained since October 30, found SMM. Surplus availability of alumina in the domestic market could be a reason for the incessant decline in price since the mid-October.

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However, today, except in Guizhou and Guangxi, alumina spot price has remained muted in Shandong at RMB 2,275 per tonne, Henan at 2,280 per tonne, and Shanxi at RMB 2,270 per tonne. In Guizhou and Guangxi, alumina price has plunged by RMB 5 per tonne and RMB 10 per tonne, respectively, to stand at RMB 2,300 per tonne.

Australian alumina FOB price and imported alumina price have also remained unchanged from US$ 280 per tonne and RMB 2,310 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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