
According to Shanghai Metals Market, the A00 aluminium ingot price extends its growth today, February 27, yet again to stand at RMB 13,620 per tonne. Yesterday, on February 26, the ingot price was at RMB 13,610 per tonne, which indicates that today the price has risen by RMB 10 per tonne. This is the sixth consecutive rise of the A00 aluminium ingot price since February 20. Over the week, the price grew from RMB 13,390 per tonne to RMB 13,620 per tonne. The average prices today are expected to range between RMB 13,600 per tonne and RMB 13,640 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne. Today’s A00 aluminium ingot spot price stands highest since December 27, 2018, when the price was hovering at RMB 13,540 per tonne.

In the east (Wuxi and Hangzhou), the A00 aluminium ingot price has increased by RMB 30 per tonne and RMB 25 per tonne to stand at RMB 13,630 per tonne; while that in the south and north has grown by RMB 10 per tonne and RMB 20 per tonne to hover at RMB 13,660 per tonne and RMB 13,610 per tonne.
However, in the background of this incessant price rise of the aluminium ingot, the prices of raw materials record no movements; neither upward nor downward, learned Shanghai Metals Market. The alumina spot price is still hovering at RMB 2,777 per tonne since December 19. Also, in the east, central, north, and south markets, the alumina price is showing restraint at RMB 2,820 per tonne, RMB 2,790 per tonne, RMB 2,760 per tonne, and RMB 2,775 per tonne respectively.

The Australian alumina FOB price stands still at US$380 per tonne, after growth from US$375 per tonne on February 15.
Other input costs like bauxite, the pre-baked anode, aluminium fluoride, and aluminium powder have registered no further change.
But this can be concluded that because of no rapid changes in Chinese input costs or for no intermittent downfalls, the A00 aluminium ingot price is possibly able to rise in the market. Moreover, the slower supply of aluminium across the Chinese market due to capacity cuts could possibly be a reason for the continued ingot price rise.
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