Chinese alumina spot price extends its marginal decline by RMB2/t; A00 aluminium ingot price continues to grow

According to Shanghai Metals Market, the average spot price of alumina continues to decline marginally by RMB 2 per tonne to RMB 2,478 per tonne, as of December 4. In the north of China, the price has dropped too by RMB 5 per tonne to RMB 2,480 per tonne for a week at RMB 2,485 per tonne since dropped from RMB 2,490 per tonne on November 25. The average prices in the north are expected to range between RMB 2,470 per tonne and RMB 2,490 per tonne. In the east, central, and south, however, the alumina price has shown no sign of change from RMB 2,490 per tonne, RMB 2,495 per tonne and RMB 2,520 per tonne, respectively.

The imported price of alumina as well as the Australian alumina FOB price, have neither recorded any change today from RMB 2,540 per tonne and US$273 per tonne, respectively.

On the other hand, despite the drop in the average alumina spot price, the price of the A00 aluminium ingot has registered a rise of RMB 10 per tonne today to RMB 14,120 per tonne, on December 4, found SMM. Although marginal, yet the rise today marks the fifth straight day of growth in A00 aluminium ingot price. The average prices are expected to range between RMB 14,100 per tonne and RMB 14,140 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne.

Foshan, Shenyang, and Tianjin have seen the highest rise of RMB 20 per tonne to RMB 14,130 per tonne, RMB 14,135 per tonne, and RMB 14,110 per tonne, followed by Wuxi, Linyi, Hangzhou, and Gongyi where the ingot price has grown by RMB 10 per tonne and RMB 5 per tonne to RMB 14,120 per tonne, RMB 14,140 per tonne, and RMB 14,035 per tonne, respectively.