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    Weiqiao Group lowers prebaked anode price on sluggish demand; A00 ingot prices remain flat

  • China Aluminium Network
  • Post Time: 2018/3/2
  • Click Amount: 800

    As updated by Shanghai Metals Market on the face of growing inventory and slow demand from smelters Weiqiao Group has lowered its prebaked anode purchasing price by RMB 200 per tonne for March at RMB 3,890-4,050 per tonne delivered. 


    The March price followed an RMB 150 per tonne cut for February. The price drops indicate signs of an oversupplied prebaked anode market due to falling demand during the winter heating season. This led to an RMB 325 per tonne drop in the average prebaked anode price in the central China market bringing it down to RMB 3900 per tonne.



    In another update from SMM, China's social inventory of refined aluminium including SHFE warrants amounted to 2.13 million tonnes as of Thursday March 1, according to data. This is up from 2.07 million tonnes recorded on Monday February 26. The current inventory status in the major Chinese cities is as follows:



    There is no such significant movement in the prices of commodities and the raw materials today. Average A00 Aluminum Ingot prices stand unchanged at RMB 14,140 per tonne.  Primary ingot prices drop in east and north China market while registering a gain in south China market. Alloy prices remain unchanged.


    On the cost front, alumina and bauxite prices remain unchanged today.  SMM expects alumina prices and prebaked anode prices to go down due to lower electricity prices. Imported bauxite price CIF China drops slightly to USD 47.6 per tonne.

    Source: http://www.alcircle.com/
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