Alumina spot price in China losses RMB2/t; A00 aluminium ingot price declines by RMB60/t despite production cut
2023年11月09日 15:49:53
铝云汇
On Thursday, November 9, the average alumina spot price in China has recorded a drop of RMB 2 per tonne to reach RMB 3,008 per tonne, according to the Shanghai Metals Market. The price has contracted after remaining restrained at RMB 3,010 per tonne from November 2 to 8.
In Shandong and Shanxi, the average alumina price has decreased by RMB 5 per tonne to peg at RMB 2,980 per tonne and RMB 3,020 per tonne, respectively, as of Thursday, November 9.
The Australian alumina FOB price has remained restrained at US$340 per tonne since October 30, found SMM.
China’s A00 aluminium ingot price has declined by RMB 60 per tonne to stand at RMB 19,170 per tonne on Thursday, November 9. The average prices are expected to range between RMB 19,150 per tonne and RMB 19,190 per tonne, with a spot contract to be traded at a discount price of RMB 80-40 per tonne.
On a week-on-week basis, the primary aluminium ingot price has edged a fall of RMB 20 per tonne despite the production cut in Yunnan. Sluggish demand from the downstream market and higher inventory stocks led to the week-on-week dip in the A00 aluminium ingot price. On Monday, November 6, China’s primary aluminium inventories stood at 685,000 tonnes, flaunting a hike of 28,000 tonnes over the week from 653,000 tonnes.
In Wuxi and Linyi, primary aluminium ingot price has also registered a downfall of RMB 60 per tonne on November 9 to stand at RMB 19,170 per tonne and RMB 19,120 per tonne, respectively. In Gongyi, Foshan, and Hangzhou, A00 aluminium ingot price has shrunk by RMB 50 per tonne to RMB 19,050 per tonne, RMB 19,210 per tonne, and RMB 19,170 per tonne, respectively.
Aluminium alloy (A356) price has contracted by RMB 50 per tonne on November 9 to settle at RMB 19,850 per tonne. The average prices are estimated to range between RMB 19,700 per tonne and RMB 20,000 per tonne, found the Shanghai Metals Market.
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