According to the Shanghai Metals Market data, China’s domestic A00 aluminium ingot price has plummeted for the second day in a row by RMB 310 per tonne to come close to the RMB 18,500 per tonne level. As per the data shown, the price stands at RMB 18,570 per tonne as of Friday, February 10, with average prices estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne. The spot contract will likely trade at a discount price of RMB 70-30 per tonne.
In Gongyi and Foshan, the aluminium ingot price has slumped by RMB 320 per tonne to peg at RMB 18,440 per tonne and RMB 18,570 per tonne, while the price in Wuxi and Hangzhou has plunged by RMB 315 per tonne to stand at RMB 18,560 per tonne and RMB 18,570 per tonne, respectively. In Chongqing and Tianjin, A00 aluminium ingot price has shrunk by RMB 280 per tonne and RMB 270 per tonne to close the week at RMB 18,600 per tonne and RMB 18,620 per tonne, followed by the downfall of RMB 250 per tonne in Shenyang and Linyi to settle at RMB 18,600 per tonne and RMB 18,620 per tonne.
China’s domestic low-carbon aluminium price has also experienced a fall of RMB 320 per tonne to rest at RMB 19,152 per tonne.
Backed on the continued downfall of A00 aluminium ingot price, aluminium alloy (A356) price has tumbled by RMB 300 per tonne to settle below RMB 20,000 per tonne. According to SMM data, the price has closed at RMB 19,700 per tonne on February 10, with average prices likely to range between RMB 19,500-19,900 per tonne.
Aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 100 per tonne to clock at RMB 19,650 per tonne and RMB 20,650 per tonne as of February 10, found SMM.
Among the primary aluminium input costs, aluminium powder price has dipped by RMB 0.30 per kg to stand at RMB 20.30 per kg. The average prices are estimated to range between RMB20.2-20.4 per kg.
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