Alumina spot price in China grows by RMB23/t after three days of restraint; A00 aluminium ingot price comes below RMB19500/t

The average alumina spot price in China has recorded an increase of RMB 23 per tonne on Wednesday, July 28, after remaining restrained for the past three days at RMB 2,520 per tonne. According to the Shanghai Metals Market data, the hike today has brought the average alumina spot price to RMB 2,543 per tonne.

In Henan, alumina price has seen an increase of RMB 35 per tonne to stand at RMB 2,565 per tonne as of July 28, while the price in Shandong and Shanxi has grown by RMB 20 per tonne to RMB 2,530 per tonne and RMB 2,565 per tonne, respectively.

Australian alumina FOB price has, however, remained restrained US$ 300 per tonne.

Among the other primary aluminium input costs, aluminium powder price has inched down by RMB 0.10 per kg to peg at RMB 22.95 per kg on July 28. The average prices are expected to range between RMB22.9-23per tonne.

Despite the increase in alumina price, A00 aluminium ingot price has plunged by RMB 170 per tonne to come below RMB 19,500 per tonne. According to SMM data, the price is standing at RMB 19,370 per tonne as of July 28. The average prices are expected to range between RMB 19,350 per tonne and RMB 19,390 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne.

In Foshan, A00 aluminium ingot price has seen the sharpest decline of RMB 190 per tonne to stand at RMB 19,480 per tonne, followed by the decrease of RMB 175 per tonne in Wuxi to RMB 19,370 per tonne. In Hangzhou and Tianjin, primary aluminium ingot price has reduced by RMB 170 per tonne to RMB 19,380 per tonne and RMB 19,360 per tonne, while the price in Chongqing and Linyi has lowered by RMB 150 per tonne and RMB 140 per tonne to come in at RMB 19,400 per tonne and RMB 19,360 per tonne, respectively.

Aluminium alloy (A356) price has decreased by RMB 200 per tonne to close at RMB 19,950 per tonne as of July 28. Aluminium alloys (ADC12) price and aluminium alloy (A380) price have inched down by RMB 50 per tonne to settle at RMB 19,000 per tonne and RMB 20,200 per tonne, respectively.