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28 OCTOBER 2022 SMM

A00 aluminium ingot price in China slumps by RMB280/t; Low carbon aluminium price declines by RMB275/t

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

On Friday, October 28, A00 aluminium ingot price in China slumped by RMB 280 per tonne to reside at RMB 18,300 per tonne, with the average prices standing between RMB 18,280 per tonne and RMB 18,320 per tonne. The spot contract price is likely to be traded at a discount price of RMB 50 to RMB 10 per tonne.

A00 aluminium ingot price in China slumps by RMB280/t; Low carbon aluminium price declines by RMB275/t

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The A00 aluminium ingot price has experienced a decline in all the major provinces. In Hangzhou and Foshan, the prices descended by RMB 290 per tonne and RMB 280 per tonne to peg at RMB 18,310 per tonne and RMB 18,440 per tonne. On the same day, in Wuxi and Chongqing, the prices closed at RMB 18,290 per tonne and RMB 18,450 per tonne after witnessing a price cut of RMB 260 per tonne and RMB 250 per tonne. As per the SMM data, prices in Gongyi and Linyi plunged by RMB 230 per tonne to stop at RMB 18,270 per tonne and RMB 18,350 per tonne. In Shenyang and Tianjin, the A00 aluminium ingot price decreased by RMB 210 per tonne and RMB 200 per tonne to settle at RMB 18,340 per tonne and RMB 18,350 per tonne.

The domestic price of low-carbon aluminium dipped by RMB 275 per tonne to score at RMB 19,048 per tonne as of Friday, October 28.The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price nosedived by RMB 300 per tonne to record at RMB 26,600 per tonne and RMB 27,600 per tonne.

The aluminium alloys (ADC12) price and aluminium alloy (A380) price went down by RMB 150 per tonne to halt at RMB 19,250 per tonne and RMB 20,250 per tonne. The former's average price is likely to be between RMB 19,150 per tonne and RMB 19,350 per tonne. For aluminium alloy (A380), the average price may stand between RMB 20,150 per tonne and RMB 20,350 per tonne. Aluminium alloy (A356) price has plunged by RMB 300 per tonne to score at RMB 19,650 per tonne, with the average prices likely to orbit between RMB 19,500 per tonne and RMB 19,800 per tonne.

Future of Global Aluminium Castings Industry

The Australian alumina FOB price has gone down by US$5 per tonne to settle at US$310 per tonne. The price of aluminium powder has inched down by RMB 0.3 per kg to come in at US$20.2 per tonne, with the average prices standing between RMB 20.1 per kg and RMB 20.3 per kg.


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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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