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30 OCTOBER 2018 AL CIRCLE

Chinese A00 aluminium ingot price drops again after an interim rise; Input costs show restraint

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

After a rise over the weekend in A00 aluminium ingot price from RMB 14090 per tonne to RMB 14120 per tonne, today, on October 30, it again registered a drop by RMB 90 per tonne to stand at RMB 14030 per tonne, Shanghai Metals Market found.  The average prices are expected to range between RMB 14010 per tonne and RMB 14050 per tonne, with spot discounts at RMB 70 per tonne to RMB 30 per tonne.

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Over the last two weeks it was found that the primary aluminium price had dropped at almost every alternate day. The maximum drop it registered towards the beginning of the month after the market opened post National Day Holiday. Between 10th of October and 15th of October, the aluminium price plunged straight from RMB 14480 per tonne to RMB 14100 per tonne, according to SMM. Since then, the price had been on the downtrend, with slight rises in the interim period.

The alumina price, on the other hand, showed restraint today, on October 30, after registering a surge on the previous day from RMB 3056 per tonne to RMB 3078 per tonne. The major markets in China claimed no exception either, as the alumina prices there remained unchanged too.

However, the drop in primary aluminium price touched all the major markets in the east, south, and north China. The south market experienced a maximum plunge than the rest two, by RMB 120 per tonne to stand at RMB 14110 per tonne. The price in the east declined by RMB 85 per tonne to RMB 14025 per tonne while that in the north slipped by RMB 70 per tonne to RMB 14060 per tonne.

Back to the input costs, the pre-baked anode, aluminium fluoride, and aluminium powder remained unchanged today at RMB 3675 per tonne, RMB 11100 per tonne, and RMB 17.65 per kg, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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