China’s average alumina spot price has soared by RMB 6 per tonne, officiating at RMB 3,316 per tonne, while the alumina price in Shanxi has gained RMB 10 per tonne to halt at RMB 3,370 per tonne.
In Guangxi, the alumina spot price has floated by RMB 15 per tonne to park at RMB 3,345 per tonne.
Reason behind China’s alumina price boost
The average alumina spot price in China has been on a growth streak for the past few weeks, owing to the raw material supply dearth. The implications of the Guinea Fuel Blast have been loud and clear, which suggests that China imports most of its raw ore from the African Country.
Moreover, China’s raw material market has been facing some complications due to the closures of bauxite mines and alumina refineries following Government-induced inspections. As per the data flashed by SMM, due to the above constraints, more than 6 million tonnes of alumina was negated from the existing repository.
SMM aluminium ingot price on January 9, today
The SMM A00 aluminium ingot price has descended by RMB 60 per tonne to officially settle at RMB 19,100 per tonne. The average aluminium prices have ranged between RMB 19,080 per tonne and RMB 19,120 per tonne.
The eight central provinces in China have all witnessed a slump of RMB 35 per tonne in average, with the aluminium price tumbling the most in Wuxi, Hangzhou, Shenyang, Tianjin and Linyi by RMB 60 per tonne each.
Wuxi – RMB 19,100 per tonne
Hangzhou – RMB 19,100 per tonne
Shenyang – RMB 19,070 per tonne
Tianjin – RMB 19,140 per tonne
Linyi – RMB 19,150 per tonne.
Other than that, the aluminium prices in Gongyi and Chongqing have both decreased by RMB 50 per tonne to finally settle at RMB 19,030 per tonne and RMB 19,090 per tonne. Lastly, the aluminium price in Foshan has discarded RMB 40 per tonne to rest at RMB 19,160 per tonne.
The low-carbon aluminium price in China has dipped by RMB 65 per tonne to officiate at RMB 19,898 per tonne.
China’s high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have suffered a loss of RMB 100 per tonne, parking at RMB 26,800 per tonne and RMB 27,800 per tonne.
The price of aluminium alloy (A356) and aluminium alloy (A360) both have witnessed price cuts of RMB 50 per tonne to anchor at RMB 19,750 per tonne and RMB 20,000 per tonne.
China’s aluminium powder price has lost RMB 0.10 per kg to close at RMB 21.70 per kg, with the average prices circulating between RMB 21.60 per kg and RMB 21.80 per kg.
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