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05 SEPTEMBER 2018 AL CIRCLE

Primary aluminium price narrows further across all major Chinese markets

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The price spread of primary aluminium between Henan province and Shanghai narrowed to RMB 90 per tonne on Wednesday, September 5, from RMB 140 per tonne at the end of August.

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The followed after aluminium processing plants in Gongyi, Henan resumed production from environmental curbs during July-August. Higher demand also served as a primary reason for the decreased prices in the province.

However, as of today, September, the A00 aluminium ingot price grew over RMB 100 per tonne from late August to RMB 14590 per tonne to stand at RMB 14610 per tonne, SMM learned.

Orders for September dropped year-on-year across most aluminium processors even as environmental restrictions eased. Downstream demand may underperform relative to expectations in the traditional high season of September-October, SMM believes.

The average aluminium spot price also plunged today by RMB 110 per tonne and clocked at RMB 14580 per tonne. Yesterday the price was at RMB 14690 per tonne. Today, the average prices are expected to range between RMB 14560 per tonne and RMB 14600 per tonne, with spot discounts to settle at RMB 40 per tonne.

In the east, the ingot price stood down by RMB 115 per tonne to RMB 14585 per tonne, while in the south and north, the prices dropped RMB 90 and RMB 95 per tonne to stand at RMB 14700 per tonne and RMB14605 per tonne, respectively.

On the other hand, due to lower demand among downstream consumers, the average aluminium alloys (ADC12) spot price registered a plunge by RMB 50 per tonne to RMB 15650 per tonne. Till yesterday, the price hovered at RMB 15700 per tonne since August 29, 2018.

Tagged with:

Price China Aluminium ingot

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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