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05 MARCH 2018 AL CIRCLE

Rising aluminium inventory in China continues to put pressure on alumina and aluminium prices

EDITED BY : BEETHIKA BISWAS 2MINS READ

With the growing domestic aluminium inventory and slow demand, both alumina and aluminium prices in China are registering a downward trend. China sees a drop in prices of alumina and A00 aluminium ingot prices today across all markets. Today’s average spot alumina price stands at RMB 2777 per tonne, down from last closed RMB 2819 per tonne. Spot alumina prices continued falling after touching the highest in November beginning. Though there were expectations of a price rise before the holidays, alumina prices remained flat and dropped after the Chinese New Year holiday. Chalco Alumina and imported alumina prices remain unchanged today.   Today’s spot alumina prices in the spot market are shown in the below table:

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In an update from SMM, China's social inventory of refined aluminium including SHFE warrants amounted to 2.19 million tonnes as on Monday March 5, according to data. This is up from 2.13 million tonnes recorded on Thursday March 1. The current inventory status in the major Chinese cities is as follows:

Bauxite(6.0≤Al/Si<7.0) prices at Shanxi gained today to RMB 360 per tonne and Bauxite(6.0≤Al/Si<7.0) prices at Henan dropped to RMB 415 per tonne. Bauxite (6.5≤Al/Si<7.5) prices at Guizhou dropped to RMB 295 per tonne.

Average A00 Aluminum Ingot prices also dropped to RMB 13,960 per tonne.  The prices are expected to range within RMB 13,940 to RMB 13,980 per tonne and spot discounts are expected to settle at RMB 170 to 130 per tonne. Primary ingot prices registered a drop of RMB 140 to 190 per tonne across all domestic markets.  


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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