China’s A00 aluminium ingot price stands steady W-o-W despite a continued loss of RMB40/t

Despite the continued decline in China’s domestic A00 aluminium ingot price, the market has shown resilience. The ingot price, standing at RMB 20,230 per tonne, is higher by 0.60 per cent than the previous week. However, compared to the last day of trading, the price has experienced a loss of RMB 40 per tonne. The average prices are estimated to range between RMB 20,210-20,250 per tonne, with spot contract to be traded at a discount price of RMB 70-30 per tonne.

As the decline today has touched upon all the major Chinese consumption provinces, A00 aluminium ingot price in Tianjin and Wuxi has come in at RMB 20,250 per tonne and RMB 20,220 per tonne, experiencing a downfall of RMB 70 per tonne and RMB 50 per tonne, respectively. In Hangzhou and Linyi, A00 aluminium ingot price has slipped by RMB 40 per tonne to stand at RMB 20,230 per tonne, while the price in Shenyang clocked at RMB 20,180 per tonne, mirroring the same amount of downfall.

On the same day, China’s domestic low-carbon aluminium ingot price has dropped by RMB 12 per tonne to reach RMB 20,992 per tonne, whereas the price of high-purity aluminium tumbled by RMB 100 per tonne to clock at RMB 27,600 per tonne.

Raw material prices

 Among the primary aluminium input costs, China’s imported alumina price has suffered a loss of US$8 per tonne to stand at US$494 per tonne, which marks the second back-to-back decline after showcasing a week-long restraint at US$505 per tonne from June 27 to July 4.

In contrast, China’s domestic average alumina spot price has recorded no change on July 8, remaining at RMB 3,903 per tonne since June 19. On a month-on-month basis, the price is down by RMB 3 per tonne compared to RMB 3,906 per tonne.

The domestic average bauxite price has also remained restrained at RMB 640 per tonne since July 2 but is in a better position than a week ago when it was at RMB 630 per tonne.

Aluminium alloy prices

In response to the fall in the price of A00 aluminium ingots, the price of aluminium alloy (A356) declined by RMB 50 per tonne on July 8 to RMB 20,700 per tonne, with average prices likely to range between RMB 20,500 and 29,900 per tonne.

However, the prices of aluminium alloys (ADC12), aluminium alloy (A360), and aluminium alloy (A380) have remained muted at RMB 20,00 per tonne, RMB 21,050 per tonne, and RMB 21,000 per tonne, respectively, found SMM.