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China’s average price for 99.7% aluminum ingot moved up by Yuan 437/tonne ($62.4/t) on week to Yuan 14,419/t including 13% VAT as of December 20, mainly thanks to the ongoing de-stocking of ingots, according to the weekly report from Mymetal, Mysteel’s nonferrous market data collection arm.
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China’s price for 99.99% copper cathode averaged Yuan 48,959/tonne ($6,994/t) as of last Friday, with the substantial Yuan 1,636/t rise on week seen as a result of better market sentiment, according to Mymetal’s latest weekly report. Mymetal is Mysteel’s publication reporting non-ferrous news and prices.
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China’s aluminum price had been holding firm over December 3-9, partly as aluminum stocks with the traders in 16 major Chinese cities under Mymetal’s weekly survey posted the fourth week of contraction during the period, down another 43,000 tonnes on week to 643,000 tonnes as of December 9, according to Mymetal’s weekly aluminum report.
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China’s national average price for refined zinc ingot fell further for the fourth week by Yuan 96/tonne ($/t) on week to Yuan 18,647/t including the 13% VAT as of November 29, although zinc consumption in steel galvanizing and zinc alloys stayed steady last week, according to Mymetal, Mysteel’s nonferrous market data collection arm.
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China’s national average price for 99.7% grade primary aluminum ingot recovered by Yuan 135/tonne ($19.3/t) on week to reach Yuan 14,044/t including 13% VAT as of November 25, according to Mymetal’s latest price report. The prices received a boosted from the steady contraction of aluminum stocks across the country which are now at their lowest level in nearly three years. Mymetal is Mysteel’s publication reporting non-ferrous news and prices.
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The national average price for 99.99% copper cathode across China headed down during the November 11-15 week, losing Yuan 444/tonne ($63/t) on week to reach Yuan 46,908/t including 13% VAT as of November 15, according to Mymetal’s latest weekly study.
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Futures prices of most non-ferrous metals including copper, aluminum, zinc and nickel on the Shanghai Futures Exchange lost ground this week on macro-economic factors, both in the domestic and global markets, which investors believed reflected a gradual slowing economy, market sources said.
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Domestic prices of ferromolybdenum in China have slid over the past week, with Mysteel’s 60% ferromolybdenum price slipping by Yuan 8,000/tonne ($1,176) or 6% on week to Yuan 130,000/t including 16% VAT as of August 14. Only a week earlier on August 7, the price had hit a 6.5-year high of Yuan 138,000/t.
