A00 aluminium ingot price extends decline to RMB14160/t; alumina spot price grows marginally

A00 aluminium ingot price has further declined today, on May 23, to stand at RMB 14,160 per tonne, found Shanghai Metals Market. The ingot price yesterday was at RMB 14,220 per tonne, which means it has dropped by RMB 60 per tonne over a day. Since April 17 the ingot price has been decline and within almost a week it has dropped by RMB 180 per tonne. The average prices today are expected to range between RMB 14,140 per tonne and RMB 14,180 per tonne.

Some of the major Chinese cities like Foshan, Wuxi, Chongqing, and Gongyi have witnessed a fall in ingot price today by RMB 60 per tonne, RMB 50 per tonne, and RMB 40 per tonne. Thus, the prices there are standing at RMB 14,250 per tonne, RMB 14,155 per tonne, RMB 14,190 per tonne, and RMB 14,075 per tonne. Other cities like Hangzhou, Shenyang, Tianjin, and Linyi have seen a lower decline by RMB 30 per tonne and RMB 20 per tonne and the ingot prices are, therefore, standing at RMB 14,190 per tonne, RMB 14,200 per tonne, and RMB 14,240 per tonne.

Average alumina spot price, on the other hand, has extended its growth from RMB 3,156 per tonne to RMB 3,163 per tonne. The south market has seen a rise too in alumina spot price from RMB 3085 per tonne to RMB 3,130 per tonne, while the others markets in the east, central, and north have seen restraint at price today. The Australian alumina FOB price sees no price change either from RMB 383 per tonne.

Other input costs such as aluminium fluoride, cryolite, and aluminium powder have recorded restraint today.