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01 FEBRUARY 2019 AL CIRCLE

Lowered aluminium ingot price and increased billets stocks prompt aluminium alloy price drop

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Followed by two back-to-back rises, the A00 aluminium ingot price registers a drop today, on February 1, by RMB 90 per tonne, found Shanghai Metals Market. After increasing on 30th of January and 31st of January, the aluminium ingot price had reached RMB 13,390 per tonne, but after a plunge today the price came in at RMB 13,300 per tonne. This same ingot price in China was on the17th of January. However, the average prices of aluminium ingot today are expected to range between RMB 13,280 per tonne and RMB 13,320 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne.

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The rise in primary aluminium social inventories yesterday by around 75,000 tonnes could be a possible reason for this ingot price drop today.

In the east (Wuxi and Hangzhou), the aluminium ingot prices have dropped by RMB 60 per tonne and RMB 80 per tonne to stand at RMB 13,335 per tonne and RMB 13,315 per tonne respectively. On the other hand, in both south and north market, the prices have plunged by RMB 90 per tonne to hover at RMB 13,330 per tonne and RMB 13,310 per tonne.

On this occasion, the spot price the aluminium alloys (ADC12) records a drop today by RMB 50 per tonne to RMB 14,800 per tonne. Increase in aluminium billet stocks by 22,500 tonnes yesterday has also spelled the drop in aluminium alloys price. The average price today is expected to range between RMB 14,700 per tonne to RMB 14,900 per tonne.

The prices of aluminium alloy (A356) and aluminium alloy (A380) have also decreased by RMB 50 per tonne to stand at RMB 14,000 per tonne and RMB 15,550 per tonne, respectively. While the average price of the former alloy is expected to range between RMB 13,950 per tonne and RMB 14,050 per tonne, the latter’s expected to range between RMB 15,450 per tonne and RMB 15,650 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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