Aluminium Prices Fluctuated Rangebound, Second Aluminium Prices Stabilised

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.