SHANGHAI, Sep 7 (SMM) – Aluminium prices fluctuated rangebound today. SMM A00 aluminium prices rose 70 yuan/mt from yesterday to 21,710 yuan/mt. Secondary aluminium prices remained stable. Quotations from domestic large secondary aluminium producers were unchanged and stood at 21,600-21,800 yuan/mt (included one-month account and freight), while small and medium-sized factories raised their quotes by 100 yuan/mt to 21,200-21,300 yuan/mt.
Arrivals of imported aluminium ingots thinned while the immediate profits of imports stood at about 400 yuan/mt. Aluminium and silicon prices still fluctuated strongly. #553 silicon with oxygen rose 950 yuan/mt, driving the costs of secondary aluminium alloys to continue to rise. Some comapnies raised their quotes by 100 yuan/mt. Increasing die-casting producers suspended production. Although downstream demand was muted, prices of secondary aluminium still have upward room driven by costs. Secondary aluminium prices are expected to fluctuate at high levels.
For queries, please contact Michael Jiang at firstname.lastname@example.org
For more information on how to access our research reports, please email email@example.com