According to the Shanghai Metals Market data, China's average alumina spot price has gained RMB 5 per tonne over the weekend to reach RMB 3,351 per tonne on Monday, January 29. The price stands at its highest point in the past two years. December 2, 2021, was the last time the Chinese alumina spot price stood at RMB 3,351 per tonne.
On a month-on-month calculation, the domestic alumina spot price is up by 7.44 per cent from RMB 3,119 per tonne.
In Shandong and Henan, the alumina price has increased by RMB 10 per tonne to stand at RMB 3,260 per tonne and RMB 3,380 per tonne, respectively, with average prices estimated to range between RMB 3,220-3,300 per tonne and RMB 3,340-3,420 per tonne.
However, the Australian alumina FOB price has continued to remain restrained at US$373 per tonne since January 19.
A00 aluminium ingot price
Despite the rise in China's alumina price, the domestic A00 aluminium ingot price has slipped over the weekend by RMB 30 per tonne to settle at RMB 19,090 per tonne on January 29, found SMM. The average prices are expected to range between RMB 19,070 per tonne and RMB 19,110 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne.
Nonetheless, on a week-on-week basis, the price reflects an increase of RMB 260 per tonne or 1.38 per cent from RMB 18,830 per tonne. But on a month-on-month calculation, the price displays a fall of 2.45 per cent from RMB 19,570 per tonne.
In Foshan and Linyi, A00 aluminium ingot price has contracted by RMB 100 per tonne and RMB 80 per tonne to stand at RMB 19,120 per tonne and RMB 19,090 per tonne, followed by a fall of RMB 70 per tonne in Gongyi to RMB 18,980 per tonne and a decline of RMB 50 per tonne in Wuxi to RMB 19,070 per tonne.
The domestic low-carbon aluminium price has also recorded a fall on January 29 to stand at RMB 19,878 per tonne, down by RMB 99 per tonne from RMB 19,977 per tonne.
Aluminium alloys prices
In line with the drop in A00 aluminium ingot price, China’s aluminium alloy (A356) price has encountered a decline of RMB 50 per tonne to come in at RMB 19,700 per tonne. The average prices are likely to range between RMB 19,500 per tonne and RMB 19,900 per tonne.
However, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained restrained at RMB 20,000 per tonne and RMB 21,000 per tonne, respectively.
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