Drastic A00 aluminium ingot price fall on July 5 brings it W-o-W lower by RMB250/t: SMM

A00 aluminium ingot price in China has plummeted by RMB 220 per tonne to settle at RMB 18,320 per tonne on Wednesday, July 5, found the Shanghai Metals Market. The drastic fall has lowered the price week-on-week by RMB 250 per tonne and month-on-month by RMB 90 per tonne. Today, the average prices are estimated to range between RMB 18,300 per tonne and RMB 18,340 per tonne, with a spot contract to be traded at a premium price of RMB 50 per tonne and RMB 90 per tonne.

Among all the Chinese provinces, Shenyang has seen the highest fall of RMB 225 per tonne to stand at RMB 18,240 per tonne, followed by the plunge of RMB 220 per tonne in Wuxi to RMB 18,280 per tonne. In Chongqing, the primary aluminium ingot price has dwindled by RMB 205 per tonne to close at RMB 18,390 per tonne, while that in Foshan and Hangzhou has decreased by RMB 190 per tonne to RMB 18,520 per tonne and RMB 18,320 per tonne, respectively.

High-purity aluminium (99.99%) price and low-carbon aluminium price have also experienced a sharp fall of RMB 200 per tonne and RMB 190 per tonne to settle at RMB 25,800 per tonne and RMB 19,144 per tonne, respectively.

In line with the A00 aluminium ingot price fall, the aluminium alloy (A356) price has also contracted by RMB 200 per tonne to stand at RMB 19,050 per tonne as of July 5, following restraint since the past four days from June 29 to July 4 at RMB 19,250 per tonne. The average prices are expected to range between RMB 18,900 per tonne and RMB 19,200 per tonne.

But on the other hand, the prices of aluminium alloy (A380) and aluminium alloys (ADC12) have remained restrained at RMB 19,400 per tonne and RMB 18,400 per tonne.

Among primary aluminium input costs, aluminium powder price has dipped by RMB 0.20 per kg to close at RMB 20.1 per kg, with average prices likely to range between RMB 20-20.2 per kg.