On 23rd August, according to the Shanghai Metal Market (SMM), China’s A00 aluminium ingot market seemed stable compared to the previous few days. Today, the average aluminium ingot price has experienced a very slight increase by RMB 10 per tonne after a huge surge in price for the entire week, settling at RMB 19,700 per tonne. The week ends on a more or less stable note. Analysing the month-on-month price variation, the average price has ascended by RMB 410 per tonne from RMB 19,290 per tonne on the same day the previous month.
The average price of A00 aluminium ingot is hovering between RMB 19,680 per tonne to RMB 19,720 per tonne, while the spot contract is likely to be traded at a discount price of RMB 100 per tonne to RMB 60 per tonne with an average of RMB 80 per tonne, no change from the previous day.
The price of low-carbon aluminium has also been improved by 17 per tonne, now standing at RMB 20,528 per tonne. High purity aluminium (99.99%) and (99.996%) have seen no change from the previous day.
Region-wise analysis:
The average price of aluminium ingot has mixed scenarios across all provinces of China. The price has increased by RMB 20 per tonne in Gongyi province and RMB 10 per tonne in Foshan, Wuxi and Tianjin province. This brings the average prices to RMB 19,620 per tonne in Gongyi, RMB 19,600 per tonne in Foshan, RMB 19,690 per tonne in Wuxi and RMB 19,620 per tonne in Tianjin. In some provinces, the price remained unchanged from the previous day, like in Hangzhou, Chongqing and Shenyang, where the price closed at RMB 19,690 per tonne, RMB 19,660 per tonne and RMB 19,610 per tonne. Inversely, in Linyi, the price has decreased by RMB 10 per tonne to peg at RMB 19630 per tonne.
Other prices:
The prices of raw materials like imported and domestic bauxite have remained steady across China. Average imported and domestic bauxite prices are US$ 76.11 per tonne and RMB 640 per tonne, respectively. Also, the alumina price settled at RMB 3,907 per tonne, no change from the previous day.
Aluminium alloy ingot:
The price of aluminium alloys ingot (ADC12) and alloy ingot (A380), alloy(A356) and alloy(A360) have also remained same with no change in price except for (ADC12) price in the northeast region where the price has surged by RMB 50 per tonne to clock at an average of RMB 20,050 per tonne.
Market analysis:
The market for A00 aluminium ingot seems stable from the past few days, indicating that the future market condition will be normal. However, for the rest of 2024, the price may increase due to fluctuations in market supply.
Responses
