Back-to-back lowered alumina spot price in China leads to extended drop in aluminium ingot price

Backed on lowered alumina spot price for the two consecutive days, the A00 aluminium ingot price extended a plunge today by RMB 60 per tonne to RMB 13,690 per tonne, Shanghai Metals Market found.

Yesterday, on November 26, the alumina spot price dropped from RMB 3131 per tonne to RMB 3119 per tonne, which further continued to plunge by RMB 25 per tonne to RMB 3094 per tonne today, on November 27.

In the east and north, the alumina spot price today recorded a dip by RMB 30 per tonne to stand at RMB 3120 per tonne and RMB 3080 per tonne respectively; while in the central and south, the prices plunged by RMB 20 per tonne and RMB 25 per tonne to clock at RMB 3100 per tonne and RMB 3105 per tonne.

As far as other input costs are concerned, bauxite showed no change in price from RMB 580 per tonne and so were the pre-baked anode, aluminium fluoride, and cryolite. The pre-baked anode is hovering at RMB 3675 per tonne while aluminium fluoride and cryolite at RMB 11500 per tonne and RMB 6000 per tonne, respectively.

Today, the average price of aluminium ingot is expected to range between RMB 13670 per tonne and RMB 13710 per tonne, with spot discounts to settle at RMB 70 per tonne to RMB 30 per tonne.

Across the east market, the aluminium ingot price registered a drop by RMB 30 per tonne to stand at RMB 13,705 per tonne while across the south and north, the ingot prices declined by RMB 80 per tonne and RMB 30 per tonne to hover at RMB 13,750 per tonne and RMB 13,710 per tonne, respectively.