China’s A00 aluminium ingot price declines by RMB 30/t amid stable raw material prices

China’s A00 aluminium ingot price has continued to decline on Thursday, September 5, albeit at a slower rate. According to the Shanghai Metals Market survey, the price dwindled by RMB 30 per tonne, reaching at RMB 19,300 per tonne. The average prices are estimated to range between RMB 19,280 per tonne and RMB 19,320 per tonne, with a spot contract to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne.On a week-on-week basis, the price is currently down by RMB 250 per tonne from RMB 19,550 per tonne, found SMM.

Additionally, China’s average domestic low-carbon aluminium price has decreased by RMB 10 per tonne to peg at RMB 20,168 per tonne. The prices for high-purity aluminium (99.99% and 99.996%) have seen no change from the previous day, reaching RMB 26,400 per tonne and RMB 27,400 per tonne, respectively. The market is stabilised today with a minor downfall in prices overall.

Region-wise analysis

All the major Chinese provinces have experienced a downward trend in aluminium ingot prices except for Chongqing and Shenyang province where the price has remained unchanged from the previous day at RMB 19,300 per tonne for both the provinces. The prices have dropped by RMB 10 per tonne in Gongyi and Foshan province, standing at RMB 19,310 per tonne and RMB 19,200 per tonne. In Wuxi and Hangzhou, the price is down by RMB 40 per tonne and RMB 30 per tonne respectively, to reach RMB 19,300 per tonne and RMB 19,310 per tonne. Tianjin and Linyi provinces have experienced a downfall in primary aluminium ingot price by RMB 20 per tonne, averaging at RMB 19,360 per tonne and RMB 19,350 per tonne.

Primary aluminium input costs:

Among primary aluminium raw material prices, China’s imported and domestic bauxite prices have continued to remain restrained at US$ 76.12 per tonne and RMB 640 per tonne, respectively. Alumina price has also remained restrained at RMB 3,938 per tonne after experiencing a continued increase from RMB 3,921 per tonne on August 30.

Aluminium alloy ingot prices:

Aluminium alloy (A356) price and aluminium alloy (A360) price have descended by RMB 50 per tonne on September 5, to officiate at RMB 19,750 per tonne and RMB 20,000 per tonne, with average prices ranging between RMB 19,600-19,900 per tonne and RMB 19,900-RMB 20,100 per tonne, respectively.

Market analysis:

Further market activity will likely depend on economic indicators, both domestically and globally in China, including manufacturing and infrastructure investments that heavily influence aluminium demand.

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