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03 MAY 2018 AL CIRCLE

China’s A00 aluminium ingot price sees a growth; alumina price plunges on the other hand

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Although the average A00 aluminium ingot price witnessed a dip to RMB 14330 per tonne on 2nd of May, 2018 from RMB 14430 per tonne on 27th of April, it restored and secured a marginal growth to RMB 14390 per tonne just a day after i.e. on 3rd of May, 2018. The price was up from May 2 but down from April 27, according to Shanghai Metal Market. The prices are expected to range between RMB 14370 per tonne and RMB 14410 per tonne, with spot discounts to settle at RMB 70 to RMB 30 per tonne.

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Amidst the oscillating phase on the face of Rusal’s sanctions and dicey availability of alumina for the production due to output cut at Hydro’s refinery, a little hike in A00 aluminium ingot price in China left a gust of positive sentiment in the market for the sellers, as well as for the producers.

Major Chinese markets also did not miss witnessing a growth in the ingot price. While in East, the price grew from RMB 14310 to RMB 14405 per tonne; in South and North, the prices increased from RMB 14340 to RMB 14450 per tonne and RMB 14360 to RMB 14400 per tonne respectively.

Alumina price on the other hand, according to Shanghai Metal Market, plunged on May 3, 2018 to RMB 3118 per tonne after remaining unchanged at RMB 3135 per tonne from 24th of April to 2nd of May, 2018. In Central and North, the prices plunged from RMB 3140 to RMB 3120 per tonne; in East, it remained unchanged at RMB 3160 per tonne.

Input costs like alloys, bauxite, and pre-baked anode remained unchanged too on May 3, 2018.

 


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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