China aluminium alloy prices continue to slide as A00 ingot becomes cheaper

Aluminium alloy prices in major markets of China kept moving down as A00 aluminium ingot fell by RMB 270 per tonne on Thursday, November 30. With the average price of A00 aluminium ingot standing at RMB 14,160 per tonne, aluminium alloys (ADC12) is unable to draw any support from raw material sector; further, downstream buying has also slowed down.

Resultantly, Aluminium Alloys (ADC12) price fell by RMB 100 per tonne to range at RMB 15,750-15,950 per tonne. The average Aluminium Alloys (ADC12) price is standing at RMB 15,850 per tonne.

The average prices of Aluminium Alloy - East, Aluminium Alloy - South, and Aluminium Alloy (A380) have dropped by RMB 100 per tonne to stand at RMB 15,850, RMB 15,700, and RMB 16,600 per tonne respectively.

The price fall in Aluminium Alloy (ZLD102), Aluminium Alloy (ZLD104), and Aluminium Alloy (A356) has been of RMB 250 per tonne taking average prices down to RMB 14,950, RMB 14,900, and RMB 14,900 respectively. Aluminium Alloy – West has declined by RMB 150 per tonne to stand at RMB 15,700 per tonne as on November 30.

SHFE Aluminium complex has been wandering around RMB 14,500 per tonne for a short while now and has sought next direction. Shanghai Metals Market thinks there is still not any supporting point around for a future rebound.

Today, SHFE Aluminium is estimated to move between RMB 14,450-14,600 per tonne range with spot premium of RMB 170 per tonne.

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