A00 aluminium ingot price surges by RMB100/t as inflation attracts investors towards commodity

Following a hike in price since Wednesday, March 30, the A00 aluminium ingot price closed the week on Friday, April 1, with a surge of RMB 100 per tonne to peg at RMB 22,730 per tonne. The average price for the same is expected to hover between RMB 22,710 per tonne and RMB 22,750 per tonne, with spot contract to be traded at a premium price of RMB 110-70 per tonne.

According to ING analyst Wenyu Yao, metals prices are projected to climb further as inflation pulls investors towards commodities, while low supply of industrial metals and the threat of more sanctions restricting Russian supplies are also driving up prices.

The price in Gongyi and Foshan has moved up by RMB 140 per tonne and RMB 110 per tonne to record at RMB 22,630 per tonne and RMB 22,760 per tonne. For the same day the price in Wuxi and Hangzhou has grown by RMB 115 per tonne to come in at RMB 22,730 per tonne and RMB 22,740 per tonne.

The aluminium powder price has inched up by RMB 0.1 per kg to register at RMB 24.4 per kg.

Aluminium alloy (ADC12) price and (A380) price has shown no change to score at RMB 22,300 per tonne and RMB 23,300 per tonne.