China’s alumina spot price towers over a week by RMB11/t, settling at RMB2852/t

The average alumina spot price in China has climbed up for the seventh consecutive day to reach RMB 2,852 per tonne on Tuesday, July 25, found the Shanghai Metals Market. The price has increased by RMB 3 per tonne to tower RMB 11 per tonne over a week.

However, today's growth has only touched upon Shanxi and Guizhou, where the alumina price has increased by RMB 5 per tonne to RMB 2,860 per tonne and RMB 2,845 per tonne, respectively. In other provinces like Shandong, Henan, and Guangxi, alumina price has remained muted at RMB 2,805 per tonne, RMB 2,880 per tonne, and RMB 2,850 per tonne.

The Australian alumina FOB price remained restrained on July 25 at US$325 per tonne.

The domestic A00 aluminium ingot price has also continued to grow for the fourth consecutive day. According to SMM, the price increased by RMB 20 per tonne on Tuesday, July 25, to settle at RMB 18,340 per tonne. The average prices are estimated to range between RMB 18,320 per tonne and RMB 18,360 per tonne, with a spot contract to be traded at a premium price of RMB 10-50 per tonne.

But despite the incessant rises in the past four days, the ingot price is lagging behind a week by RMB 30 per tonne.

In Tianjin, Gongyi, and Wuxi, A00 aluminium ingot price has expanded by RMB 70 per tonne, RMB 50 per tonne, and RMB 40 per tonne, respectively, to come in at RMB 18,390 per tonne, RMB 18,340 per tonne, and RMB 18,360 per tonne. In Linyi, Hangzhou, and Shenyang, the primary aluminium ingot price has grown by RMB 30 per tonne to peg at 18,400 per tonne, RMB 18,350 per tonne, and RMB 18,300 per tonne, while the price in Chongqing has inched up by RMB 10 per tonne to close at RMB 18,360 per tonne.

Meanwhile, aluminium alloy prices recorded no change on July 25, except aluminium alloy (A360) price as it has increased by RMB 50 per tonne to clock at RMB 19,450 per tonne. The average prices are estimated to range between RMB 19,350 per tonne and RMB 19,550 per tonne, learned SMM.