A00 aluminium ingot price in China edges higher by RMB80/t amid muted input costs; Aluminium alloy (A356) price up by RMB50/t

According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike over the Chinese Dragon Boat Festival Holiday by RMB 80 per tonne to stand at RMB 14,090 per tonne on Monday, June 29. The average prices are expected to range between RMB 14,070 per tonne and RMB 14,110 per tonne, with spot contract to be traded at a premium price of RMB 190-230 per tonne.

Tianjin has seen the highest growth in A00 aluminium ingot price of RMB 110 per tonne among all the major Chinese cities to hover at RMB 14,110 per tonne, followed by Linyi, where the price has increased by RMB 100 per tonne to RMB 14,130 per tonne. In Hangzhou, the A00 aluminium ingot price has grown by RMB 85 per tonne to RMB 14,125 per tonne, while that in Foshan and Wuxi has edged higher by RMB 70 per tonne to come in at RMB 14,170 per tonne and RMB 14,100 per tonne, respectively. In Shenyang and Gongyi, the price has registered a hike of RMB 65 per tonne and RMB 55 per tonne to respectively peg at RMB 14,030 per tonne. In Chongqing, however, the aluminium ingot price has slipped by RMB 10 per tonne to RMB 14,060 per tonne.

The price of aluminium alloy (A356) has increased as well by RMB 50 per tonne to stand at RMB 14,750 per tonne, as of Monday, June 29. However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 13,950 per tonne and RMB 14,850 per tonne, respectively.

As far as the input costs are concerned, neither the price of alumina nor bauxite or prebaked anode has recorded any changes, found Shanghai Metals Market. While the average spot alumina price is continuing at RMB 2,261 per tonne, the prices of bauxite and prebaked anode are hovering at RMB 540 per tonne and RMB 2,670 per tonne, respectively.

According to a recent report from SMM, an alumina refinery in north-central China’s Shanxi province has shut down a production line with an annualised capacity of 1 million tonnes, following an equipment accident.

It is now unclear when the capacity will resume. The refinery was designed with a 2.2 million tonne per year of capacity, but its 2 million tonne capacity was in operation before the accident.