Aluminium prices defy input costs, grows further in China
The A00 aluminium ingot price in China again saw a growth on Wednesday from RMB 14190 per tonne to RMB 14290 per tonne, marking an increase by RMB 100 per tonne, according to Shanghai Metals Market (SMM) data.
The rise was seen despite a fall in alumina spot price in the past two days.
The average prices are expected to range between RMB 14270 per tonne and RMB 14310 per tonne, with spot discounts to settle at RMB 70 per tonne to RMB 30 per tonne.
Also, this rise in aluminium ingot price for the past two days in a row has touched all the major markets in China, SMM stated.
The markets in the east, south, rose by RMB 100 per tonne each while the north witnessed a price hike by RMB 90.
In the east, the ingot price has been hovering at RMB 14275 per tonne while in the south and north, the prices are found at RMB 14340 per tonne and RMB 14290 per tonne respectively.
On Tuesday, ingot price remained unchanged at RMB 3066 per tonne, but dropped to RMB 3048 per tonne Wednesday.
In the east and central, the prices continued to show restraint at RMB 3080 per tonne and RMB 3050 per tonne. In the north and south, the prices registered a drop by RMB 35 per tonne and RMB 25 per tonne to RMB 3040 per tonne and RMB 3055 per tonne, respectively.
Other input costs like bauxite, pre-baked anode, and aluminium fluoride also continued to remain unchanged at RMB 570 per tonne, RMB 3675 per tonne, and RMB 11100 per tonne.
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