Further rise in primary aluminium inventories push down the A00 aluminium ingot price to as low as RMB12830/t

On the further rise of the social inventories of primary aluminium, the A00 aluminium ingot price has recorded a sharp decline of RMB 240 per tonne to RMB 12,830 per tonne. For the first time in the last one year, the A00 aluminium ingot price has come below the RMB 13,000 per tonne level. The average prices are expected to range between RMB 12,810 per tonne and RMB 12,850 per tonne, with spot contract to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne.

In Foshan, Wuxi, and Hangzhou, the price has witnessed a drop of RMB 240 per tonne and stands at RMB 12,820 per tonne. In Gongyi, the price has declined by RMB 235 per tonne to RMB 12,745 per tonne and that in Chongqing and Linyi, the price has plunged by RMB 230 per tonne to RMB 12,850 per tonne and RMB 12,920 per tonne, respectively. In Tianjin and Shenyang, the ingot price has decreased by RMB 215 per tonne and RMB 155 per tonne to hover respectively at RMB 12,845 per tonne and RMB 12,950 per tonne.

The social inventories of primary aluminium, after increasing by 71,000 tonnes across eight major consumption areas in China over the week, have come in at 1.559 million tonnes on Monday, March 9.

The chart below indicates the current status of primary aluminium inventories across China in more details:

Backed on the decline in A00 aluminium ingot price, the prices of aluminium alloys have also recorded drops. The price of aluminium alloy (A356) has seen the highest drop of RMB 250 per tonne to RMB 13,550 per tonne and that of aluminium alloys (ADC12) and aluminium alloy (A380) have declined by RMB 50 per tonne to RMB 14,700 per tonne and RMB 15,600 per tonne, respectively.