China’s A00 aluminium ingot price plummets by RMB230/t; Low-carbon aluminium price declines below RMB19000/t

According to the Shanghai Metals Market, China’s domestic A00 aluminium ingot price has plummeted by RMB 230 per tonne on March 10, following a dip of RMB 10 per tonne last day. Thus, the price has closed the week at RMB 18,230 per tonne, recording a week-on-week fall of RMB 320 per tonne or 1.73 per cent from RMB 18,550 per tonne. The average prices are expected to range between RMB 18,210 per tonne and RMB 18,250 per tonne, with spot contract likely to trade at a discount price of RMB 60-20 per tonne.

In Foshan, A00 aluminium ingot price has plunged by RMB 240 per tonne to stand at RMB 18,250 per tonne, followed by a decline of RMB 230 per tonne in Wuxi to RMB 18,220 per tonne. In Gongyi and Hangzhou, the primary aluminium ingot price has shrunk by RMB 210 per tonne to peg at RMB 18,180 per tonne and RMB 18,260 per tonne, and that also in Tianjin and Linyi has decreased by the same amount to settle at RMB 18,280 per tonne.

China’s domestic low-carbon aluminium price has also suffered a loss of RMB 240 per tonne, reaching below RMB 19,000 per tonne. As of Friday, March 10, the price stands at RMB 18,832 per tonne.

In tandem with the A00 aluminium ingot price fall, aluminium alloy prices have shrunk across China. Aluminium alloy (A356) price has slumped by RMB 250 per tonne to peg at RMB 19,250 per tonne, with average prices likely to range between RMB 19,050 per tonne and RMB 19,450 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 100 per tonne to come in at RMB 19,500 per tonne and RMB 19,550 per tonne, found SMM.

Among primary aluminium input costs, aluminium powder price has dipped by RMB 0.20 per kg to stand at RMB 20 per kg. The average prices are estimated to range between RMB 19.9-20.1 per kg.