China’s A00 aluminium ingot price marks M-o-M fall of RMB260/t owing to weaker metal consumption

According to the Shanghai Metals Market (SMM), A00 aluminium ingot price in China has fallen by RMB 110 per tonne on Tuesday, April 9, to stand at RMB 18,360 per tonne. The spot contract prices are expected to be traded at a premium price of RMB 20 to RMB 60 per tonne, with the average prices standing between RMB 18,340 per tonne and RMB 18,380 per tonne.

However, on M-o-M calculation, the price has slumped by RMB 260 per tonne from RMB 18,620 per tonne due to weaker metal consumption by the downstream sector amid limited arrivals of stock in major inventories. As of today, the A00 aluminium ingot prices have fallen in all the provinces.

To begin with, the prices in Foshan and Chongqing have dwindled by RMB 130 per tonne to stand at RMB 18,410 per tonne and RMB 18,440 per tonne. In Wuxi and Linyi, the A00 aluminium ingot prices have fallen by RMB120 per tonne, settling at RMB 18,360 per tonne and RMB 18,410 per tonne. On the same day, Shenyang and Tianjin recorded a drop of RMB 110 per tonne to reside at RMB 18,410 per tonne. As per the SMM data, the prices in Hangzhou and Gongyi have descended by RMB 100 per tonne to score at RMB 18,400 per tonne and RMB 18,280 per tonne.

The high purity aluminium (99.99%) price and high purity aluminium (99.996%) price have slumped by RMB 100 per tonne to stand at RMB 26,100 per tonne and RMB 27,100 per tonne. The domestic price of low carbon aluminium has decreased by RMB 125 per tonne to reach RMB 18,992 per tonne.

The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have moved down by RMB 50 per tonne to halt at RMB 18,750 per tonne and RMB 19,750 per tonne. The average price for (ADC12) is expected to stand between RMB 18,650 per tonne and RMB 18,850 per tonne. For aluminium alloy (A380), the average prices are expected to orbit between RMB 19,650 per tonne and RMB 19,850 per tonne. As per the SMM data, the aluminium alloy (A356) has plunged by RMB 100 per tonne to settle at RMB 19,150 per tonne, with the average prices standing between RMB 19,000 per tonne and RMB 19,300 per tonne.