A00 Aluminum Ingot prices drop in all Chinese markets; downstream producers stock for upcoming National Day holidays

A00 Aluminum Ingot prices dropped across all major markets after correction on September 27, Wednesday. The average price of A00 Aluminium Ingot would range between RMB 16,130 – 16,170/t and today’s average price stands at RMB 16,150/t, down from RMB 16,230/t yesterday. A00 Aluminium Ingot in spot China market is trading at discounts of RMB 210 - 170/t. 

Aluminum Alloys Ingot (ADC12) prices have remained unchanged in all markets. The fall in aluminium A00 Aluminum prices in the major China market is presented in the table below: 

Aluminum processors in east China are in a rush to make purchases on Wednesday morning for upcoming 2017 Chinese National Day holidays from October 1 to 7. Downstream producers are driven by the currently falling aluminium prices. 

This allowed spot discounts to narrow RMB30 /tonne from yesterday to RMB 180-200/tonne over SHFE 1710 aluminium.   According to SMM, SHFE 1711 aluminium will range RMB 16,350-16,550/mt, with support at the 40-day moving average. 

As for other raw materials are concerned, Average prebaked anode prices in East China, Central China, Southwest China and Northwest China market have remained flat at RMB 4415/t, RMB4220/t, RMB4275/t and RMB4600/t for a week.

Bauxite (4.5≤Al/Si£¼5.5) prices in Shanxi and Henan have registered a slight rise today.

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