On March 25, Monday, China’s A00 aluminium ingot price has settled at RMB 20,950 per tonne after witnessing a drop of RMB 850 per tonne, found the Shanghai Metals Market. The average price for the same day is expected to orbit between RMB 20,930 per tonne and RMB 20,970 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne.
The price in Gongyi and Shenyang has also descended by RMB 780 per tonne to stop at RMB 21,080 per tonne and RMB 21,040 per tonne. As of today, the price in Foshan and Wuxi has been recorded at RMB 21,080 per tonne and RMB 20,950 per tonne, after witnessing a slump of RMB 860 per tonne and RMB 840 per tonne. As per the SMM data, the price in Hangzhou and Chongqing has plummeted by RMB 850 per tonne and RMB 870 per tonne to peg at RMB 21,070 per tonne and RMB 21,020 per tonne. In Tianjin and Linyi the A00 aluminium ingot price has slumped by RMB 750 per tonne and RMB 800 per tonne to halt at RMB 21,050 per tonne and RMB 21,100 per tonne.
Aluminium alloy (ADC12) price and (A380) price has contracted by RMB 200 per tonne to close at RMB 21,600 per tonne and RMB 22,600 per tonne. The average price for (ADC12) is expected to range between RMB 21,500 per tonne and RMB 21,700 per tonne. For the same day, the average price for (A380) is estimated to hover between RMB 22,500 per tonne and RMB 22,700 per tonne. As per SMM, the (A356) price has plummeted by RMB 850 per tonne to score at RMB 22,100 per tonne, with average prices estimated to hover between RMB 22,000 per tonne and RMB 22,200 per tonne.
The Australian alumina FOB price has inched down by US$1 per tonne to close at US$370 per tonne. Aluminium powder price has also crawled down by RMB 0.8 per kg to rest at RMB 22.6 per kg, with average prices expected to range between RMB 22.5 per kg to RMB 22.7 per kg.