Chinese A00 aluminium ingot price grows over the weekend after two consecutive falls last week

Followed by two consecutive falls last week, the A00 aluminium ingot price is found rebounded over the weekend, showed Shanghai Metals Market on Monday, March 4, 2019. While the spot price of aluminium ingot has grown to RMB 13,630 per tonne from RMB 13,550 per tonne, the average prices are expected to range between RMB 13,610 per tonne and RMB 13,650 per tonne. The spot discounts are likely to settle at RMB 70 per tonne to RMB 20 per tonne.

As the surge has touched upon all the major Chinese markets, the east market (Wuxi and Hangzhou) has recorded a growth of RMB 75 per tonne to stand at RMB 13,620 per tonne. The markets in the south and north have witnessed an increase in ingot price by about RMB 110 per tonne and RMB 30 per tonne to hover at RMB 13,680 per tonne and RMB 13,600 per tonne, respectively.

The alumina spot price, on the other hand, remains restraint at RMB 2775 per tonne, as of today, on March 4. However, in some of the major Chinese markets, the alumina price has shown a movement although downward. In the east and central, the price has slipped by RMB 10 per tonne to RMB 2,760 per tonne and RMB 2,780 per tonne; while in the north and south, the price dipped RMB 5 per tonne and RMB 30 per tonne to RMB 2,755 per tonne and RMB 2,745 per tonne, respectively.

Other input costs like of bauxite, the pre-baked anode, and aluminium fluoride have recorded no change across China, except the aluminium powder which has grown by RMB 10 per kg to clock at RMB 17.20 per kg.