Alumina and prebaked anode price drop by RMB18/t and RMB25/t; A00 aluminium ingot price also declines

According to Shanghai Metals Market, the average spot price of alumina has started the month with a drop of RMB 18 per tonne to RMB 2,457 per tonne, as of August 1, 2019. With this, the price records a month-on-month decline of RMB 301 per tonne. Since the end of May, the spot alumina price is registering a sluggish trend ranging between RMB 3119 per tonne, as of May 29, to RMB 2,457 per tonne today. The rise in alumina import into the market and therefore, the lesser consumption of domestic production could be one of the reasons for this incessant drop in the spot price of alumina.

In the south, the price today has declined by RMB 30 per tonne to RMB 2,435 per tonne, while that in the east, central, and north has inched down by RMB 20 per tonne and RMB 10 per tonne to RMB 2,480 per tonne, RMB 2,470 per tonne, and RMB 2,450 per tonne, respectively.

The imported price of alumina has also declined as well, by RMB 50 per tonne to stand at RMB 2,700 per tonne.

Among other input costs, the prebaked anode price has registered a drop by RMB 25 per tonne to RMB 3,112 per tonne, as of August 1, as one of the top aluminium producers in China Shandong Weiqiao Group has lowered the benchmark purchasing prices for prebaked anode by RMB 50 per tonne to RMB 2,995 per tonne in cash for August.

On the decline in prices of two raw materials, the price of A00 aluminium ingot has also inched down today by RMB 40 per tonne to clock at RMB 13,870 per tonne. The average prices are expected to range between RMB 13,850 per tonne and RMB 13,890 per tonne, with spot contract to be traded at a discount price of RMB 10 per tonne to a premium price of RMB 30 per tonne.

Tianjin has seen the highest drop of RMB 60 per tonne to RMB 13,860 per tonne, followed by Foshan, Gongyi, and Shenyang, where the aluminium ingot price has decreased by RMB 50 per tonne and RMB 45 per tonne to RMB 13,860 per tonne, RMB 13,735 per tonne, and RMB 13,835 per tonne respectively.

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