W-o-W decline in primary aluminium inventories results in sharp growth of A00 aluminium ingot price

The week-on-week decline in primary aluminium ingots inventories by 24,000 tonnes on Thursday, September 17, has led to a sharp growth in A00 aluminium ingot price on Friday, September 18, found the Shanghai Metals Market. Following a downfall from RMB 14,680 per tonne to RMB 14,590 per tonne on Thursday, the price today has recorded an increase of RMB 190 per tonne to close at RMB 14,780 per tonne, according to SMM data. The average prices are expected to range between RMB 14,760 per tonne and RMB 14,800 per tonne, with spot contract to be traded at a premium price of RMB 110-150 per tonne.

Foshan has seen the highest growth in A00 aluminium ingot price today by RMB 220 per tonne to stand at RMB 14,990 per tonne. In Gongyi, the price has increased by RMB 210 per tonne to RMB 14,720 per tonne, while that in Hangzhou and Shenyang has surged by RMB 190 per tonne to come in at RMB 14,880 per tonne and RMB 14,765 per tonne, respectively. In Wuxi and Tianjin, the primary aluminium ingot price is standing at RMB 14,790 per tonne and RMB 14,760 per tonne, rising by RMB 180 per tonne and RMB 140 per tonne, respectively. The price in Chongqing and Linyi, has grown by RMB 125 per tonne and RMB 120 per tonne to stand at RMB 14,735 per tonne and RMB 14,800 per tonne, respectively.

Backed on the hike in A00 aluminium ingot price, the prices of aluminium alloys have recorded sharp rises. While the price of aluminium alloy (A356) has registered a jump of RMB 200 per tonne to RMB 15,400 per tonne, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have increased by RMB 150 per tonne to RMB 14,800 per tonne and RMB 15,700 per tonne, respectively.

The average prices of aluminium alloy (A356) are expected to range between RMB 13,350 per tonne and RMB 13,450 per tonne. The average prices of aluminium alloys (ADC12) and aluminium alloy (A380) are expected to range between RMB 14,700 per tonne and RMB 14,900 per tonne and RMB 15,600 per tonne and RMB 15,800 per tonne, respectively.

 

Note to readers: AlCircle brings two-day event for aluminium industry players. We look forward to meeting you virtually at “Global Aluminium Expo 2020”on October 6-7, 2020. For registration, visit www.alcircleevents.co

source https://www.alcircle.com/news/w-o-w-decline-in-primary-aluminium-inventories-results-in-sharp-growth-of-a00-aluminium-ingot-price-59073