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China Aluminium Alloy Ingot Prices Inclines in April, Contrary to Europe and the USA
China Aluminium Alloy Ingot Prices Inclines in April, Contrary to Europe and the USA

China Aluminium Alloy Ingot Prices Inclines in April, Contrary to Europe and the USA

  • 25-Apr-2024 4:26 PM
  • Journalist: Timothy Greene

In the US, Aluminium Alloy Ingot prices fell on a weekly basis by the week ending April 12th. In March, Petroleum Coke Calcined Grade FOB USGC (USA) prices dropped while the Producer Price Index for Alumina and Aluminium Production and Processing saw monthly decline. This was due to rising inventory and decreased infrastructure demand. Similarly, in Germany, Aluminium Alloy Ingot prices decreased influenced by low demand and increased inventories. Conversely, China saw an increase due to improved manufacturing and supply pressures.

Aluminium Alloy Ingot prices in the US domestic market saw 0.6% weekly decrease as of April 12th, marking the conclusion of the week. March saw a noticeable 14.6% drop in Petroleum Coke Calcined Grade FOB USGC (USA) prices compared to the prior month. Moreover, the Producer Price Index by Industry (Alumina and Aluminium Production and Processing) saw a 0.3% decline monthly in March. This decrease was attributed to rising inventory levels and reduced demand in the infrastructure sector. The cautious purchasing behaviour, especially in the automotive and construction sectors with substantial inventories, led to weekly decrease of the prices of Aluminium Alloy Ingot.

Aluminium Alloy Ingot prices in the German spot market declined by 0.6% on a weekly basis compared to the previous week, while Petroleum Coke experienced a 1.9% decrease in March compared to the preceding month. This drop was influenced by sustained low demand, pessimistic buyer outlooks, and a surge in domestic market inventories. The surplus of inventory led to a downturn in Aluminium Alloy Ingot prices. Furthermore, March witnessed a 6.2% year-over-year surge in car sales volume. Factors like the demand-supply imbalance and fluctuations in raw material expenses contributed to the price decline of Aluminium Alloy Ingots in the German domestic market.

The conclusion of the week on April 12th saw a rise in prices for Aluminium Alloy Ingots in China. As per the latest data from China's National Bureau of Statistics in March, the Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 50.8%, marking a 1.7% increase compared to the previous month and surpassing the threshold, signalling a positive shift in the manufacturing industry. This improvement in the industry climate contributed to heightened demand for Aluminium Alloy Ingots from downstream sectors, causing a reduction in inventories. Moreover, the sustained closure of the import window alleviated supply pressures, further impacting the market dynamics. Collectively, these various factors combined to drive a 0.2% upswing in Aluminium Alloy Ingot prices.

According to ChemAnalyst, anticipating robust trading of Aluminium Alloy Ingots in the US domestic market, there could be an upward trend in prices. The scarcity of inventory in businesses, coupled with strong demand for new stocks, has led to this price increase. In Germany, changes in the coal prices are bolstering the cost of Aluminium Alloy Ingots. This is due to concerns about limited availability, which is impacting price trends. The surge in demand projections and optimistic purchasing trends in China may drive up the prices of Aluminium Alloy Ingot. Moreover, the anticipation of rising feedstock costs also pushes up the production expenses for Aluminium Alloy Ingot.

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