A00 ingot prices drop across all major China markets after rallying yesterday on capacity cut news

The China aluminium market is fluctuating almost every day over the uncertainty regarding the current aluminium capacity cut in the country. The average prices for A00 ingot dropped across all major China markets (North, South, East, North-East and South-West) on August 2 after a quick boost the day before. 

Among the domestic markets, the average price for A00 Aluminium Ingot for North China market has dropped to RMB 14,210/t. In the South China market the price dropped to RMB 14,285/t. The price gap between the two market increased toRMB 75/t.

The prices Zhejiang and Jiangsu provinces in East China market were down to RMB14,240/t and RMB14,210/t respectively.

For the Southwest China market, the price increased to RMB 14,230/t and for Northwest China market it stood at RMB14,185/t.

A00 Aluminium Ingot in spot China market is trading at discounts of RMB 180 - 140/t.

The A00 Aluminium prices are expected to gain today based on the news in the market that China Hongqiao Group will shut down 2.6 million tonnes of aluminium capacity before October. The price movements would be determined by the news of capacity cuts by the aluminium heavyweights in China.

Aluminium alloy prices (A380 and A356) remain flat in China as of today. Raw material prices remain flat around all china market.