According to the Shanghai Metals Market, the average alumina spot price has continued to grow for the third consecutive day to stand above RMB 3,800 per tonne. SMM data shows the price has built up by RMB 76 per tonne to come in at RMB 3,820 per tonne on Wednesday, September 29.
The average alumina price in Guizhou has skyrocketed by RMB 275 per tonne to close at RMB 3,850 per tonne, followed by the hike of RMB 125 per tonne in Guangxi to peg at RMB 3,700 per tonne. In Shandong and Shanxi, alumina price has increased by RMB 50 per tonne to stand at RMB 3,800 per tonne, while the price in Henan is hovering around RMB 3,850 per tonne by also gaining RMB 50 per tonne.
Australian alumina FOB price, on the other hand, has remained restrained after a leap of US$57 per tonne to US$457 per tonne on Tuesday, September 28.
Amid the rise in the average alumina price, A00 aluminium ingot price has recorded a surge to stand at RMB 22,820 per tonne on September 29. SMM shows the price has climbed by RMB 330 per tonne following a sharp decline of RMB 440 per tonne on September 28. The average prices are expected to range between RMB 22,800 per tonne and RMB 22,840 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne.
In Foshan, primary aluminium ingot price has jumped by RMB 350 per tonne to come in at RMB 22,850 per tonne, followed by the hike of RMB 340 per tonne in Tianjin to RMB 22,820 per tonne. In Hangzhou, A00 aluminium ingot price has climbed by RMB 335 per tonne to stand at RMB 22,825 per tonne, while the price in Gongyi and Linyi has built up by RMB 320 per tonne to RMB 22,660 per tonne and RMB 22,780 per tonne, respectively.
Aluminium alloy (A356) price has soared by RMB 450 per tonne to settle at RMB 26,950 per tonne on September 29. The average prices are likely to range between RMB 26,900 per tonne and RMB 27,000 per tonne, according to SMM.
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