Prices of A00 aluminium ingot and aluminium alloy(A356) record the fourth consecutive day of fall

The A00 aluminium ingot price has recorded further downfall of RMB 40 per tonne, marking the fourth consecutive day of decline, found Shanghai Metals Market on Monday, February 17. The price has thus, come in at RMB 13,550 per tonne. The average prices are expected to range between RMB 13,530 per tonne and RMB 13,570 per tonne, with spot contract to be traded at a discount price of RMB 40-0 per tonne.

The back-to-back fall in ingot price could be attributed to the slower consumption in comparison with the stocks arrived. Delay in production resumption after the Chinese New Year Holiday due to the outbreak of epidemic Coronavirus has primarily slowed the transaction process in the Chinese market.

A maximum number of Chinese cities, as of today, have seen the ingot price fall of RMB 20 per tonne, such as Foshan, Wuxi, Hangzhou, Tianjin, and Chongqing. The ingot prices there are hovering at RMB 13,600 per tonne, RMB 13,560 per tonne and RMB 13,590 per tonne, respectively. In Shenyang and Linyi, the prices have plunged by RMB 10 per tonne to RMB 13,595 per tonne and RMB 13,630 per tonne. In Gongyi, however, the ingot price has recorded no change from RMB 13,455 per tonne.

The price of aluminium alloy (A356) has also declined today by RMB 50 per tonne to RMB 14,250 per tonne. Similar to A00 aluminium ingot price, aluminium alloy (A356) has recorded the fourth consecutive day of decline today. The average prices are expected to range between RMB 14,200 per tonne and RMB 14,300 per tonne.

The costs of input materials have remained restrained, as of today, found SMM.