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    Rise in alumina price fails to push up the A00 aluminium ingot price today; other input costs dwindle

  • China Aluminium Network
  • Post Time: 2019/4/25
  • Click Amount: 342

    According to Shanghai Metals Market, the average alumina spot price has recorded a growth today, April 24, by RMB 10 per tonne to come in at RMB 2,705 per tonne. In the major markets including east, central, north, and south, the alumina price has climbed by RMB 10 per tonne and hovering at RMB 2,710 per tonne, RMB 2,700 per tonne and RMB 2,705 per tonne, respectively. However, the Australian alumina FOB price has shown restraint today at US$363 per tonne.

    However, despite the rise in average alumina spot price, the A00 aluminium ingot price has dwindled by RMB 50 per tonne to RMB 14,150 per tonne. The average prices are expected to range between RMB 14,130 per tonne and RMB 14,170 per tonne. The spot aluminium contract is likely to be traded at the same discount of RMB 30 per tonne to a premium of RMB 10 per tonne.

    Since the aluminium ingot price drop has touched upon all the major Chinese markets, the markets in the east (Wuxi and Hangzhou) has recorded a price drop by RMB 40 per tonne and RMB 60 per tonne to RMB 14,130 per tonne and RMB 14,160 per tonne, respectively. In the south and north, the ingot price has declined by RMB 50 per tonne and RMB 40 per tonne to stand at RMB 14,150 per tonne and RMB 14,140 per tonne.

    The reason behind this aluminium ingot price drop could be the fall of other raw materials prices such as prebaked anode, aluminium fluoride, and aluminium powder. The prebaked anode price has registered a fall by RMB 50 per tonne to RMB 3,650 per tonne while the prices of aluminium fluoride and aluminium powder have declined by RMB 30 per tonne to RMB 8,600 per tonne and by RMB 0.10 per kg to RMB 17.70 per tonne.

    Source: www.alcircle.com
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