The average alumina spot price has extended growth by RMB 3 per tonne to RMB 2,525 per tonne, according to Shanghai Metals Market. Limited supply of the ore in the market due to lower production at refineries is primarily responsible for the continued growth in the alumina spot price.
In the east, the price has also come in at RMB 2,525 per tonne, but after the growth of RMB 5 per tonne. In the central, north, and south, the price has recorded no change.
The Australian alumina FOB price has remained restrained as well at US$ 299 per tonne, found Shanghai Metals Market.
The A00 aluminium ingot price has also recorded a growth today, followed after a restraint at RMB 13,410 per tonne on the previous day. The SMM data shows the aluminium ingot price has expanded by RMB 20 per tonne to RMB 13,430 per tonne. The average prices are expected to range between RMB 13,410 per tonne and RMB 13,450 per tonne, with spot contract to be traded at a discount price of RMB 70 per tonne to RMB 30 per tonne.
In Foshan, Wuxi, and Hangzhou, the price has increased by RMB 30 per tonne to RMB 13,420 per tonne, RMB 13,430 per tonne, and RMB 13,440 per tonne, respectively. The price in Gongyi and Shenyang has grown by RMB 25 per tonne to RMB 13,475 per tonne and RMB 13,370 per tonne, followed by the rise of RMB 20 per tonne in Chongqing and Linyi to RMB 13,440 per tonne and RMB 13,500 per tonne, respectively. Tianjin has seen the lowest rise of RMB 10 per tonne to RMB 13,440 per tonne, learned SMM.
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