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17 AUGUST 2019 AL CIRCLE

Weekly Recap: A00 aluminium ingot price marked record-high this week and so the price of aluminium alloy (A356)

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

This week the A00 aluminium ingot price soared by RMB 300 per tonne to stand at RMB 14,250 per tonne, as of August 13, from RMB 13,950 per tonne on August 12, primarily attributed to limited cargo arrivals at inventories and brisk trading of primary aluminium. On August 12, the social inventories of primary aluminium shrank 6,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 1.035 million tonnes, as of August 12.

A00 aluminium ingot price

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The growth of RMB 300 per tonne in A00 aluminium ingot price on August 13 was the highest in the last eight months of the year. Followed the rise, the A00 aluminium ingot price declined by RMB 100 per tonne to RMB 14,150 per tonne, as of August 14, and then again rose by RMB 40 per tonne and RMB 50 per tonne on August 15 and August 16 to come in at RMB 14,190 per tonne and RMB 14,240 per tonne, respectively.

On Thursday, August 15, the aluminium ingot price grew despite a week-on-week rise in primary aluminium inventories. The stocks across eight major consumption areas, including SHFE warrants, increased by 1,000 tonnes from a week ago to stand at 1.051 million tonnes.

Red Mud Report

Growth in the price of aluminium powder, a raw material used for the primary aluminium manufacture, throughout the week also bolstered the price of A00 aluminium ingot. On August 13, it rose significantly from RMB 17.40 per kg to RMB 17.70 per kg. On August 14, it declined to RMB 17.60 per kg but again rebounded on August 15 and August 16 to RMB 17.70 per kg and RMB 17.80 per kg.

Backed on the growth of A00 aluminium ingot price, the price of aluminium alloy (A356) also recorded a sweeping growth of RMB 300 per tonne from RMB 14,600 per tonne on August 12 to RMB 14,900 per tonne, as of August 13. Followed that, the price dropped on August 14 to RMB 14,800 per tonne and then rose on August 15 and August 16 to RMB 14,900 per tonne and RMB 14,950 per tonne.

Aluminium alloy (A356)

The price of aluminium alloy (A356) marked several growths this week, as the supply in the market remained tight. As of Thursday, August 15, the stocks of 6063 aluminium billet across five major consumption areas stood at 93,700 tonnes, down by some 2,200 tonnes from August 8.

The prices of aluminium alloy (ADC12) and aluminium alloy (A380), however, recorded no change over the week and continued at RMB 14,000 per tonne and RMB 14,850 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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