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27 OCTOBER 2017 AL CIRCLE

Trading slows down at east China spot market; A00 ingot prices drop across China

EDITED BY : BEETHIKA BISWAS 2MINS READ

As updated by Shanghai Metals Market, average Prices of A00 aluminium ingot have dropped significantly across all markets after rising steadily all through the week.  Average A00 aluminium ingot price dropped from RMB 16,270/t to stand at RMB 16,190/t today on October 27.  A00 aluminium ingot prices across all individual markets have also dropped consequently. The fall in  aluminium A00 Aluminum prices across the various markets in China today are presented in the table below: 

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In China, on Thursday, the most active SHFE aluminium 1711 opened at RMB 16,185/t, went as high as 16,450/t and finally closed at RMB 16,400/t. On Friday, SHFE 1711 aluminium opened at RMB 16,370/t.

Mainstream traded prices were RMB 16,160-16,180 /tonne in Shanghai, discounts of RMB140-130 /tonne over SHFE 1711 aluminium, versus RMB16,160-16,180 /tonne in Wuxi and RMB16,190-16,210 /tonne in Hangzhou.  According to SMM, traders lost buying interest in East China spot market, while downstream producers built up stocks for the weekend.

As for raw materials are concerned, SMM statistics shows that average spot alumina price in China remains unchanged at RMB 3730/t on October 23.  Chalco and imported alumina prices have also remained unchanged. Prebaked anode and bauxite prices remain unchanged in all major China markets. 

The Chinese yuan fell significantly against the US dollar over the past five weeks. The central parity of the yuan was 6.6473 against the US dollar on October 27, versus 6.6288 October 26. The yuan closed at 6.6357 on October 26, and 6.6435 in the evening session.

 

Tagged with:

Aluminium Price China SMM

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EDITED BY : BEETHIKA BISWAS 2MINS READ

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