Further decline of alumina spot price pulls down A00 aluminium ingot price across China

After remaining restraint last day at RMB 2,749 per tonne, the alumina spot price again plunged today, on March 7, by RMB 14 per tonne to stand at RMB 2,735 per tonne, found Shanghai Metals Market. This is the third fall of alumina spot price this month, hinting a continued downward trend. The average price of alumina is also expected to hover at RMB 2,735 per tonne today.

As the decline has touched upon all the major Chinese markets, the price in the east has dropped RMB 20 per tonne to RMB 2,740 per tonne. In the central and north, the price stood at RMB 2,750 per tonne and RMB 2,720 per tonne after declining by RMB 10 per tonne and RMB 20 per tonne, respectively. The markets in south China witnessed no exceptional trend either but saw a plunge in alumina spot price by RMB 5 per tonne to RMB 2,735 per tonne.

The Australian alumina FOB price, however, still remained at US$390 per tonne.

In this background, the A00 aluminium ingot price also recorded a drop today across all the Chinese markets. While the average price plunged by RMB 70 per tonne to RMB 13,630 per tonne, the price in the east (Wuxi and Hangzhou) decreased by RMB 75 per tonne and RMB 70 per tonne to stand at RMB 13,615 per tonne and RMB 13,620 per tonne. In the south and north markets too, the ingot price clocked at RMB 13,620 per tonne, but after decreasing by RMB 90 per tonne and RMB 50 per tonne from the previous day.

The average spot discount of aluminium ingot, however, increased by RMB 10 per tonne today to range between RMB 20 per tonne and RMB 40 per tonne.

One more raw material of aluminium ingot among others also registered a price drop and that is none other than the aluminium powder. It plunged from RMB 17.20 per kg to RMB 17.10 per kg.