Without much support from alumina prices and due to low consumption at the year end, primary aluminium price in China has plunged again to stand at a level slightly above RMB 14,000 per tonne. A00 ingot prices have dropped to RMB14,130 per tonne on December 26 from RMB 14, 420 per tonne yesterday. The price is expected to range within RMB 14,110 – 14,150 per tonne. Spot discounts are expected to be deeper at a range of RMB 320-280 yuan/mt.
The fall continues in all the individual markets registering a drop ranging from RMB 245 to 315 per tonne. Currently, the average price of A00 ingot is trending the highest in the South China market at RMB 14,275/t. The below table shows the price drop in the other major Chinese markets:
As a ripple effect of lower primary aluminium price, aluminium alloy price has also dropped in all markets. Average prices of Aluminum Alloys (ADC12) have dropped to RMB 15,900 per tonne today. Aluminum Alloy (A356) and Aluminum Alloy (A380) prices have dropped to RMB 14,850 and RMB 16,650 per tonne respectively.
As updated by Shanghai Metals Market, other raw materials like alumina, bauxite and prebaked anode remained unchanged today.
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