A00 aluminium ingot price downswings to RMB17270/t after soaring last day; Aluminium alloy(A356) price shrinks below RMB18000/t

A00 aluminium ingot price has recorded a plunge of RMB 290 per tonne to close the week on Friday, February 26, at RMB 17,270 per tonne, following a sweeping rise of RMB 820 per tonne to RMB 17,560 per tonne on February 25, found the Shanghai Metals Market. The average prices are likely to range between RMB 17,250 per tonne and RMB 17,290 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne, down by RMB 10 per tonne from the previous day.

Foshan has seen the highest decrease of RMB 280 per tonne to RMB 17,280 per tonne, followed by the decline of RMB 275 per tonne in Wuxi to RMB 17,250 per tonne. In Gongyi and Chongqing, A00 aluminium ingot price has shrunk by RMB 260 per tonne to come in at RMB 17,100 per tonne and RMB 17,270 per tonne, respectively, while that in Shenyang has plunged by RMB 255 per tonne to RMB 17,255 per tonne. In Hangzhou and Tianjin, the price is down by RMB 245 per tonne to RMB 17,280 per tonne and RMB 17,270 per tonne, and that in Linyi has slipped by RMB 130 per tonne to settle at RMB 17,230 per tonne.

Aluminium alloy (A356) price has decreased by RMB 300 per tonne to RMB 17,950 per tonne on February 26, with average prices expected to range between RMB 17,900 per tonne and RMB 18,000 per tonne, according to SMM data.

The prices of aluminium alloys (ADC12) and aluminium alloy (A356), on the other hand, are down by RMB 100 per tonne to RMB 18,200 per tonne and RMB 19,200 per tonne, respectively.

Among the primary aluminium input costs, only aluminium powder price has recorded a change. It has dropped by RMB 0.30 per kg to come in at RMB 20.85 per kg on Friday, February 26, found SMM.