According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has dropped by RMB 20 per tonne, following an intermittent rise of RMB 110 per tonne the previous day. Thus, on Wednesday, February 28, the A00 aluminium ingot price has come in at RMB 18,790 per tonne, with average prices ranging between RMB 18,770 per tonne and RMB 18,810 per tonne. The spot contract is likely to be traded at a discount price of RMB 50-10 per tonne.
In Foshan, the domestic ingot price has decreased by RMB 40 per tonne to stand at RMB 18,830 per tonne, with average prices hovering around RMB 18,810-RMB 18,850 per tonne. In Wuxi, Hangzhou, Chongqing, and Shenyang, A00 aluminium ingot price has unanimously dropped by RMB 20 per tonne to stand at RMB 18,790 per tonne.
In Tianjin and Linyi, the primary aluminium ingot price has gained RMB 20 per tonne and RMB 10 per tonne, respectively, to settle at RMB 18,810 per tonne and RMB 18,820 per tonne as of February 28.
China’s domestic low-carbon aluminium price has shed off RMB 41 per tonne on February 28 to stand at RMB 19,653 per tonne, found SMM.
Amid the A00 aluminium ingot price drop, aluminium alloy prices have remained restrained on February 28. While aluminium alloys (ADC12) price has continued to stand at RMB 19,900 per tonne, aluminium alloy (A380) and aluminium alloy (A356) prices display RMB 20,900 per tonne and RMB 19,400 per tonne.
Primary aluminium input costs also recorded no change in any part of China. On Tuesday, February 27, the average alumina spot price decreased by RMB 1 per tonne to settle at RMB 3,351 per tonne but remained muted on the subsequent day.
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