China’s A00 aluminium ingot price drops by RMB70/t in the wake of lower demand and global economic challenges

On Thursday, May 11, China’s A00 aluminium ingot price has decreased by RMB 70 per tonne to halt at RMB 18,320 per tonne. A W-o-W calculation recorded a slump of RMB 190 per tonne from RMB 18,510 per tonne. Today, the average prices are expected to stand between RMB 18,300 per tonne and RMB 18,340 per tonne, with the spot contract price expected to be traded at a discount price of RMB 20 to a premium price of RMB 20 per tonne.

The A00 aluminium ingot price has fallen in all the provinces owing to weaker demand in China and global economic headwinds. However, the price in Hangzhou has recorded a sudden growth of RMB 20 per tonne to score at RMB 18,420 per tonne. The prices in Chongqing and Wuxi have slipped by RMB 80 per tonne to stand at RMB 18,390 per tonne and 18,300 per tonne.

On the same day, the prices in Gongyi, Foshan and Linyi have dipped by RMB 70 per tonne to clock at RMB 18,220 per tonne, RMB 18,350 per tonne and RMB 18,380 per tonne. As per the SMM data, the prices in Shenyang and Tianjin have gone down by RMB 60 per tonne and RMB 40 per tonne to score at RMB 18,360 per tonne and RMB 18,370 per tonne.

The average alumina spot price has descended by RMB 2 per tonne, stopping at RMB 2,889 per tonne. The price in Henan has also dropped by RMB 10 per tonne to peg at RMB 2,950 per tonne. The domestic price of low carbon aluminium in China has declined by RMB 70 per tonne, scoring at RMB 18,932 per tonne.

The high purity aluminium (99.99%) price and high purity aluminium (99.996%) price have plunged by RMB 100 per tonne to arrive at RMB 26,000 per tonne and RMB 27,000 per tonne. The price of aluminium alloys (ADC12), aluminium alloy (A356) and aluminium alloy (A380) have dropped by RMB 50 per tonne.

The price of aluminium alloys (ADC12) has closed at RMB 18,700 per tonne, with the average prices orbiting between RMB 18,600 per tonne and RMB 18,800 per tonne. Aluminium alloy (A356) price settled at RMB 19,100 per tonne, with the average prices expected to range between RMB 18,900 per tonne and RMB 19,300 per tonne. On the same day, the price of aluminium alloy (A380) clocked at RMB 19,700 per tonne, with the average prices expected to stand between RMB 19,600 per tonne and RMB 19,800 per tonne.