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    Aluminium market in east China lowers on narrowed spot discounts: A00 ingot price rises a bit

  • China Aluminium Network
  • Post Time: 2018/6/12
  • Click Amount: 727

    According to Shanghai Metals Market, east China on Monday, June 11, 2018, witnessed a narrowed trading in spot aluminium market. Traders showed reluctance in purchasing primary aluminium and took a wait-and-watch stance as spot discounts against the SHFE 1806 contract shrank.

    In the Shanghai market, transactions were mostly heard at RMB 14710 per tonne to RMB 14720 per tonne with discounts settled at RMB 30 to RMB 20 per tonne against the SHFE 1806 contract, compared to RMB 60 to RMB 50 per tonne a week ago. The discounts against the 1807 contract hovered around RMB 110 per tonne. In Wuxi and Hangzhou, transactions were seen at RMB 14710 per tonne to RMB 14720 per tonne and RMB 14740 per tonne to RMB 14760 per tonne respectively.

    Sellers in east China were keen to offload cargoes and downstream consumers purchased on demand.

    On the other hand, in Guangdong market, transactions were mostly heard at RMB 14790 per tonne to RMB 14810 per tonne with Guangdong-Shanghai price spread at about RMB 80 per tonne. Local inventory continued to shrink as aluminium ingot stock at Guangdong warehouses narrowed 13000 tonnes from last Thursday, June 7, 2018, and closed at 271,000 tonnes.

    On the face of lowered inventory, sellers were relatively reluctant to offload their cargoes. Supply in the market became limited, as a result. Downstream consumers, on the other hand, purchased as much needed. Overall trading in Guangdong was, therefore, brisk.

    But today, on June 12, 2018, the average A00 aluminium ingot price in China witnessed a rise from RMB 14720 per tonne to RMB 14750 per tonne. The prices are expected to range between RMB 14730 per tonne and RMB 14770 per tonne with spot discount settled at RMB 30 to RMB 10 per tonne.

    In east China, the average aluminium ingot price rose marginally from RMB 14715 per tonne to RMB 14725 per tonne, while in the south, the price grew from RMB 14800 per tonne to RMB 14805 per tonne. The north stood as a bit exception as it witnessed a plunge in aluminium ingot price from RMB 14730 per tonne to RMB 14720 per tonne. 

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