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30 NOVEMBER 2018 AL CIRCLE

Chinese A00 aluminium ingot spot price records a drop for five days in a row: SMM

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to Shanghai Metals Market, the A00 aluminium ingot price has extended a plunge even today, on November 30, by RMB 80 per tonne to stand at RMB 13,500 per tonne. This marks the fifth consecutive fall throughout the week since November 26. The average prices today are expected to range between RMB 13,480 per tonne and RMB 13,520 per tonne, with spot discounts remaining the same at RMB 70 per tonne to RMB 30 per tonne.

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The ingot price in the east-China (Wuxi and Hangzhou) has come in at RMB 13,505 per tonne from RMB 13,565 as of November 30, marking a drop by RMB 60 per tonne. In the south and north, the prices today are standing at RMB 13,570 per tonne and RMB 13,500 per tonne after a drop by RMB 80 per tonne and RMB 70 per tonne from yesterday.

The reasons behind the incessant drop in ingot prices through the week could be slower demand for primary aluminium and limited transactions among spot aluminium downstream purchasers. Also, the drop in alumina spot price over the week had been unable to push up the spot market price of aluminium. After a continued drop in alumina spot price from RMB 3184 per tonne to RMB 3131 per tonne on November 23 to RMB 3119 per tonne on November 26 and RMB 3094 on November 27, RMB 3075 on November 28, and RMB 3067 on November 29, today the price shows a restraint across all the major markets in east, central, north, and south China.

The price of aluminium powder, another raw material used for aluminium production, has recorded the second consecutive dip today from RMB 17.10 per kg to RMB 17 per kg. Other input costs such as bauxite, the pre-baked anode, and aluminium fluoride, however, remain unchanged today at RMB 580 per tonne, RMB 3,675 per tonne, and RMB 11,500 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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