Chinese A00 aluminium ingot price continues to fall to RMB14020/t; prices of aluminium alloys also decline

According to Shanghai Metals Market, the price of A00 aluminium ingot has recorded further down over the weekend ended on June 10 from RMB 14,060 per tonne to RMB 14,020 per tonne. This indicates that the A00 aluminium ingot price has shrunk by RMB 40 per tonne. The average prices are expected to range between RMB 14,000 per tonne and RMB 14,040 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 40 per tonne.

Since the beginning of the month, the aluminium ingot price had been registering a decline ranging between RMB 14,170 per tonne and RMB 14,020 per tonne and thus, the price is now standing lower than RMB 14,170 per tonne in the same period last month.

Today, the ingot price in Hangzhou has recorded a maximum decline in compare with other Chinese cities. The price there has dropped by RMB 75 per tonne to RMB 14,025 per tonne. Followed this, the price in Shenyang and Tianjin has inched down by RMB 60 per tonne to RMB 14,015 per tonne and RMB 14,030 per tonne, respectively. The price in Chongqing, Linyi, and Wuxi has dwindled by RMB 50 per tonne and RMB 35 per tonne, while that in Foshan and Gongyi by RMB 30 per tonne.

Amidst the continued decline in A00 aluminium ingot price, the price of aluminium alloys (ADC12) has decreased from RMB 14,350 per tonne to RMB 14,300 per tonne, as of June 10. On June 5 and June 6, the price had shown restraint after falling from RMB 14,400 per tonne to RMB 14,350 per tonne on June 4.

The prices of aluminium alloy (A356) and aluminium alloy (A380) have also registered a fall today by RMB 50 per tonne to stand at RMB 14,700 per tonne and RMB 15,150 per tonne, respectively.

The input costs have recorded no change today other than the Australian alumina FOB price, which has plunged by US$2 per tonne to US$370 per tonne.