According to the Shanghai Metals Market, China’s A00 aluminium ingot price has slumped by RMB 180 per tonne on Thursday, April 27, to stand at RMB 18,570 per tonne, marking a downtrend for almost a week. Hence, on a week-on-week calculation, the price is down by RMB 570 per tonne or 2.83 per cent from RMB 19,110 per tonne. The average prices are estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne, with a spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne.
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In Foshan and Chongqing, A00 aluminium ingot price has plunged by RMB 190 per tonne to peg at RMB 18,680 per tonne, followed by the downfall of RMB 175 per tonne in Wuxi to rest at RMB 18,565 per tonne. In Gongyi and Shenyang, the primary aluminium ingot price has shrunk by RMB 170 per tonne to RMB 18,490 per tonne and RMB 18,620 per tonne, and that in Tianjin and Linyi has contracted by RMB 150 per tonne to settle at RMB 18,620 per tonne, found SMM.
Low-carbon aluminium price has plummeted by RMB 174 per tonne to come in at RMB 19,251 per tonne, and high purity aluminium (99.99%) price has slumped by RMB 200 per tonne to clock at RMB 26,300 per tonne.
In response to the continued downfall of A00 aluminium ingot price, aluminium alloy (A356) price has reflected an incessant fall throughout the week. On April 27, the price has dwindled by RMB 200 per tonne to stand at RMB 19,400 per tonne, with average prices likely to range between RMB 19,200 per tonne and RMB 19,600 per tonne, learned SMM.
On the other hand, aluminium alloy (A380) price and aluminium alloys (ADC12) price have decreased by RMB 100 per tonne to stand at RMB 19,050 per tonne and RMB 20,050 per tonne, respectively.
Among primary aluminium input costs, China’s average alumina spot price has continued to dip by RMB 1 per tonne for the second consecutive day to settle at RMB 2,896 per tonne. In Shanxi, alumina price has dropped by RMB 5 per tonne to close at RMB 2,915 per tonne, while in other provinces, the price has remained muted.
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