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03-05 July 2024
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China’s A00 aluminium ingot price shrinks for the 3rd day to RMB20740/t for ongoing pandemic; Aluminium alloy (A356) plunges by RMB200/t

A00 aluminium ingot price in China has decreased for the third day in a row by RMB 210 per tonne on Tuesday, April 26, to stand at RMB 20,740 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 20,720 per tonne and RMB 20,760 per tonne, with spot contract likely to be traded at a discount price of RMB -50 to -10 per tonne.

In Shenyang, A00 aluminium ingot price has plummeted by RMB 240 per tonne to come in at RMB 20,800 per tonne, followed by the downfall of RMB 230 per tonne in Foshan to RMB 20,850 per tonne. In Wuxi and Hangzhou, primary aluminium ingot price has slumped by RMB 210 per tonne to rest at RMB 20,740 per tonne and RMB 20,860 per tonne, respectively, while the price in Linyi, Tianjin, and Gongyi has dwindled by RMB 160 per tonne, RMB 150 per tonne, and RMB 130 per tonne to hover around RMB 20,940 per tonne, RMB 20,900 per tonne, and RMB 20,950 per tonne, respectively.

The continue decline in domestic primary aluminium ingot price could be because of the ongoing COVID-19 pandemic. Many areas are still marked as high risks of COVID, due to which purchase sentiments are on downswing; nonetheless, a few have seen ease in restrictions, allowing buyers to pick up goods.  

For the same reason, aluminium alloy (A356) price has also recorded a plunge on April 26 by RMB 200 per tonne to settle at RMB 21,900 per tonne, with average prices likely to range between RMB 21,800 per tonne and RMB 22,000 per tonne

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have slipped by RMB 100 per tonne to close at RMB 21,500 per tonne and RMB 22,500 per tonne, respectively, as of Tuesday, April 26.

Source: AlCircle