Bauxite price in the spot Chinese market records a drop but ingot price registers back-to-back rise

After almost two months, the spot price of bauxite recorded a change on January 28, according to Shanghai Metals Market. The bauxite price dipped by RMB 20 per tonne and stood at RMB 550 per tonne. Prior to this, the aluminium ore price was at RMB 570 per tonne from December 3, 2018, to January 27, 2019.

Although the bauxite price remained restraint over the last two months at RMB 570 per tonne and even registered drop from RMB 590 per tonne towards the end of October and RMB 580 per tonne at the end November, yet it followed an overall upward trend compared to the first half of 2018. In the first half of 2018 (January to July), the bauxite price was between the range of RMB 380 per tonne and RMB 505 per tonne.

However, the average prices on January 28 were expected to range between RMB 530 per tonne and RMB 570 per tonne. The price of the Bauxite(6.0≤Al/Si＜7.0)Henan was seen to drop by RMB 10 per tonne to RMB 550 per tonne while the price of the Bauxite(4.5≤Al/Si＜5.5)Henan was found dropped by RMB 5 per tonne to stand at RMB 470 per tonne.

On the other hand, the price of alumina recorded a last change on January 29 by registering a drop from RMB 2817 per tonne to RMB 2808 per tonne. Since then, the price remained unchanged until today, January 31. The spot alumina price in the east, central, north, and even south China market remained the same at RMB 2,850 per tonne, RMB 2,830 per tonne, 2,780 per tonne, and RMB 2,810 per tonne, respectively. The Australian alumina FOB price also remained unchanged at US$ 364 per tonne, as on January 31.

The A00 aluminium ingot price increased today by RMB 30 per tonne to RMB 13,390 per tonne, SMM data showed. This marks the second back-to-back rise. The average prices are expected to range between RMB 13,700 per tonne and RMB 13,410 per tonne, with sot discounts to settle at RMB 80 per tonne to RMB 40 per tonne.