Alumina spot price in China continues to decline to come below RMB4000/t; A00 aluminium ingot price falls sharply by RMB1300/t

The average alumina spot price in China has declined for the fourth day in a row to stand below RMB 4,000 per tonne, found the Shanghai Metals Market. On Friday, November 5, the price has sharply decreased by RMB 88 per tonne to come in at RMB 3,926 per tonne.

In Shandong and Guizhou, alumina price has plunged by RMB 105 per tonne to stand at RMB 3,925 per tonne and RMB 3,800 per tonne, respectively, while the price in Henan and Shanxi has shrunk by RMB 90 per tonne and RMB 85 per tonne to close at RMB 3,950 per tonne on November 5, learned SMM.

China’s A00 aluminium ingot price has also recorded a steep fall of RMB 1,300 per tonne on November 5 to settle at RMB 18,650 per tonne, attributable to the hike in primary aluminium inventories. According to SMM, the average prices are expected to range between RMB 18,630 per tonne and RMB 18,670 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne.

In Foshan and Wuxi, A00 aluminium ingot price has plummeted by RMB 1,320 per tonne and RMB 1,315 per tonne, respectively, to stand at RMB 18,740 per tonne and RMB 18,630 per tonne, while the price in Hangzhou has slipped by RMB 1,305 per tonne to peg at RMB 18,640 per tonne. In Gongyi and Shenyang, the primary aluminium ingot price has dwindled by RMB 1,200 per tonne to come in at RMB 18,650 per tonne and RMB 18,780 per tonne.

Meanwhile, A00 aluminium ingot price in Chongqing and Linyi has grown by RMB 120 per tonne to close the week at RMB 19,990 per tonne and RMB 20,000 per tonne.

Aluminium alloy (A356) price has registered a fall of RMB 1,300 per tonne to stand at RMB 21,550 per tonne on Friday, November 5. The average prices are estimated to range between RMB 21,500 per tonne and RMB 21,600 per tonne.