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April 2024, Minor Price Fluctuations Occur at Global Aluminium Alloy Ingot Market
April 2024, Minor Price Fluctuations Occur at Global Aluminium Alloy Ingot Market

April 2024, Minor Price Fluctuations Occur at Global Aluminium Alloy Ingot Market

  • 13-May-2024 3:59 PM
  • Journalist: Gabreilla Figueroa

Aluminium Alloy Ingot prices in the US market remained stable by the week ending April 26th, with minimal fluctuations in supply and demand scenarios. Similarly, in the German spot market, prices rose marginally, aligning with balanced market dynamics amidst disruptions in trade and construction activity. On the other hand, in China, Aluminium Alloy Ingot prices fell, reflecting a paradox of robust supply amid declining demand. Spot transactions in central China maintained a moderate pace, influenced by weak downstream demand. Additionally, the automobile sales volume decreases. This decline is attributed to persistent challenges in the real estate, infrastructure sector and automobile sector. As a result, Aluminium Alloy Ingot prices faced downward pressure.

At the close of the week on April 26th, Aluminium Alloy Ingot prices in the US domestic market remained stable. Despite ongoing market dynamics, prices have stayed consistent with the trend from the previous week, attributed to minimal fluctuations in relevant supply and demand factors affecting final pricing. Consequently, a stable scenario has emerged in Aluminium Alloy Ingot prices for DEL Alabama (USA).

In the German spot market, prices for Aluminium Alloy Ingot rose by 6-8 USD/MT compared to the previous week. Germany's inflation rate is expected to increase by 2.2% in April 2024, according to preliminary data from the Federal Statistical Office (Destatis). Market supply and demand are balanced and subject to individual needs. Some buyers are postponing restocking in anticipation of lower prices. Despite disruptions in overseas trade and a slight uptick in construction activity, stable economic conditions and production costs have maintained stability in Aluminium Alloy Ingot prices in Germany. Automobile sales volume surged by 21.4% in March compared to the previous month.

With the week ending on April 26th, Aluminium Alloy Ingot prices in China fell by 8-10 USD/MT Ex Shanghai. The Aluminium Alloy Ingot industry faces a paradox: while supplies remain robust, and demand declined. China's Aluminium Alloy Ingot price is on a downward trend, with spot contract prices expected to trade at a discount. Spot transactions in central China maintained a moderate pace, driven mainly by steady downstream demand purchases. The discount in central China slightly widened, accompanied by a deceleration in downstream activities. The automobile sales volume decreases by 12% in April. According to industry associations, persistent declines in the real estate sector and a slowdown in infrastructure construction have led to sluggish demand for Aluminium Alloy Ingots. Collectively, these factors contributed to decrease in Aluminium Alloy Ingot prices.

According to ChemAnalyst, a robust upward trend in Aluminium Alloy Ingot trading within the US market could result in increased prices. In Germany, fluctuations in coal market prices might lead to heightened costs for Aluminium Alloy Ingots due to concerns over limited availability. Optimistic purchasing trends and escalating demand in China could also drive-up Aluminium Alloy Ingot prices. Moreover, rising feedstock costs could further strain production expenses related to Aluminium Alloy Ingots. These combined factors may cause prices to rise across different markets, showcasing the dynamic nature of the Aluminium Alloy Ingot industry influenced by supply and demand dynamics.

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