According to the Shanghai Metals Market, A00 aluminium ingot price in China has dipped by RMB 10 per tonne, marking the fourth consecutive fall. The data suggests though the price has lost only RMB 10 per tonne on Tuesday, February 14, it has registered a week-on-week fall of RMB 540 per tonne. The price has come in at RMB 18,460 per tonne today, with average prices estimated to range between RMB18,440 per tonne and RMB 18,480 per tonne. The spot contract will likely trade at a discount price of RMB 50-10 per tonne.
SMM data also shows that except for Foshan, all the Chinese provinces have uniformly experienced a downfall of RMB 10 per tonne. Thus, in Gongyi, Wuxi, and Hangzhou, primary aluminium ingot price has pegged at RMB 18,370 per tonne, RMB 18,455 per tonne, and RMB 18,470 per tonne, and that in Chongqing, Shenyang, and Tianjin, has settled at RMB 18,480 per tonne, RMB 18,490 per tonne, RMB 18,510 per tonne.
Only in Foshan, A00 aluminium ingot price has remained muted at RMB 18,460 per tonne as of February 14.
Among primary aluminium input costs, the average alumina spot price has increased by RMB 1 per tonne to close at RMB 2,951 per tonne as of February 14, found the Shanghai Metals Market data. The price has grown after remaining restrained since the last hike of RMB 3 per tonne on February 7 from RMB 2,947 per tonne to RMB 2,950 per tonne.
In Shanxi, alumina price has increased by RMB 5 per tonne to stand at RMB 2,975 per tonne, marking a growth after almost a month. The last rise was on January 17 to RMB 2,970 per tonne, and since then remained muted till February 13.
The Australian alumina FOB price has decreased by US$ 7 per tonne to settle at US$363 per tonne on Tuesday, February 14.
Aluminium alloys prices have remained restrained across China. While the aluminium alloys (ADC12) price has remained restrained at RMB 19,650 per tonne, aluminium alloy (A356) price and aluminium alloy (A380) price are continuing at RMB 19,600 per tonne and RMB 20,650 per tonne, learned SMM.
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