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05 FEBRUARY 2020 AL CIRCLE

Weiqiao raises its prebaked anode purchasing price by RMB20/t; A00 aluminium ingot price today grows by RMB10/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the recent update on Shanghai Metals Market, Shandong Weiqiao Group has raised the benchmark purchasing price for prebaked anode by RMB 20 per tonne for February. This brings the price to RMB 2,620 per tonne in cash.

In the last seven months, Weiqiao consecutively cut its prebaked anode benchmark purchasing price. For January, the price was reduced by RMB 70 per tonne to RMB 2,600 per tonne in cash; while in December, the price was at RMB 2,670 per tonne after being declined by RMB 130 per tonne.

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But in China’s spot market, the average prebaked price has seen no change today, February 5, found Shanghai Metals Market. Yesterday, the price rose by RMB 10 per tonne from RMB 2,780 per tonne to RMB 2,790 per tonne.

Prebaked anode price hovers at RMB 2,790 per tonne

Other input costs have also recorded restraint today. The average alumina spot price is hovering at RMB 2,456 per tonne after the minor growth of RMB 2 per tonne last day, while bauxite and aluminium fluoride at RMB 560 per tonne and RMB 8,100 per tonne, respectively.

However, despite the restraint across all the input costs, the price of A00 aluminium ingot has registered a marginal rise of RMB 10 per tonne to RMB 13,460 per tonne. The average prices are expected to range between RMB 13,440 per tonne and RMB 13,480 per tonne, with spot contract to be traded at a discount price of RMB 140-100 per tonne.

Global Aluminium Industry Outlook 2020

Wuxi and Tianjin have witnessed the highest growth today in the ingot price of RMB 50 per tonne to come in at RMB 13,480 per tonne, followed by Foshan, Hangzhou, and Chongqing of RMB 20 per tonne to RMB 13,550 per tonne, RMB 13,480 per tonne, and RMB 13,510 per tonne, respectively. Shenyang and Gongyi, on the other hand, have seen a plunge of RMB 10 per tonne to RMB 13,450 per tonne and RMB 13,360 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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