Chinese A00 aluminium ingot price grows by RMB50/t, and so the price of aluminium alloys (A356)

According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike of RMB 50 per tonne on Thursday, March 5, followed a significant decline of RMB 130 per tonne to RMB 13,010 per tonne. The ingot price today stands at RMB 13,060 per tonne, down by RMB 330 per tonne week-on-week. This indicates the Chinese primary aluminium prices are currently recording rapid downfall due to the continued weak demand among downstream consumers and surge in inventories. The average prices, as of today, are expected to range between RMB 13,040 per tonne and RMB 13,080 per tonne, with spot contract to be traded at a discount price of RMB 70 per tonne to RMB 30 per tonne.

The price in Gongyi has grown the highest by about RMB 85 per tonne to RMB 13,000 tonnes, followed by Shenyang, where the price has jumped by RMB 80 per tonne to RMB 13,085 per tonne. In Wuxi, Chongqing, and Tianjin, the A00 aluminium ingot price has increased by RMB 65 per tonne and RMB 60 per tonne to stand respectively at RMB 13,075 per tonne, RMB 13,080 per tonne, and RMB 13,090 per tonne. In Foshan, Hangzhou, and Linyi, the price has inched up by RMB 50 per tonne and RMB 20 per tonne to RMB 13,060 per tonne, RMB 13,070 per tonne and RMB 13,160 per tonne, respectively.

Backed on the rise in A00 aluminium ingot price, the aluminium alloys (A356) price has also registered a growth of RMB 50 per tonne today to stand at RMB 13,800 per tonne. The average prices are expected to range between RMB 13,750 per tonne and RMB 13,850 per tonne.

However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have recorded a decline of RMB 50 per tonne to RMB 14,750 per tonne and RMB 15,650 per tonne, respectively. Both the prices have declined after remaining restrained in the last two days at RMB 14,800 per tonne and RMB 15,700 per tonne.