SHANGHAI, Mar 1 (SMM) – Guangxi Hualei New Materials, a subsidiary of China Aluminum Corporation (Chinalco), raised its purchasing prices for prebaked anodes by 24 yuan/mt month on month for March, SMM learned on Friday March 1.
Higher transport costs accounted for the increase, which brought the purchasing price to 3,958 yuan/mt.
On a broader nationwide basis, however, prices of prebaked anode continued to show signs of weakness as of March 1. In the eastern market, spot prices dipped 70 yuan/mt from Thursday February 28, and averaged 3,350 yuan/mt on March 1, SMM assessed.
On February 27, Shandong Weiqiao Group, one of the top aluminium producers in China, tentatively lowered purchasing prices for prebaked anode by 140 yuan/mt for March after it cut prices by the same amount for February.
The decline will bring its March's purchasing prices to 3,180 yuan/mt in cash and 3,215 yuan/mt on acceptance.
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