Prebake anode prices in China may see some rise in November; A00 ingot price registers a slight rise today

As updated by Shanghai Metals Market, primary aluminium output in China reaches 24.66 million tonnes, rising 5% in the first three quarters of 2017. Since September many aluminium enterprises have raised operative capacity based on optimistic anticipation on upcoming peak season of end consumption. However, purchasing is still slow and inventories are piling up again. 

Average prices of A00 aluminium ingot have seen some rise today on November 1, across all markets after three consecutive falls. Average A00 aluminium ingot price has increased from RMB 16,080/t to stand at RMB 16,140/t today.  Other than south China market, aluminium A00 Aluminum prices have registered a rise from RMB 30/t to RMB 50/t across all markets.  In the spot market aluminium is trading at a discount of RMB160-120 /tonne.

Raw material prices including alumina, bauxite, and prebaked anode remain unchanged in all markets. Notably, Al Fluoride and Cryolite prices in China have registered a big jump today.  

Prebaked Anode prices are expected to rise in November. SMM also learns that Carbon plants and Weiqiao Group are negotiating over prebaked anode prices in November.

According to a further update, Weiqiao Group would reject any big hike in November prebaked anode purchasing price. One of the carbon plants in Shandong has demanded for RMB150 /t hike in prebaked anode sales price for November delivery.