The SMM A00 aluminium ingot price has dropped RMB 80 per tonne, resting at RMB 18,940 per tonne. The average prices have ranged between RMB 18,920 per tonne and RMB 18,960 per tonne. If we consider the SMM aluminium price on January 9, there can be seen a Week-on-Week slump of RMB 160 per tonne or 0.84 per cent.
If compared with the last quarter of 2023, on October 16, when the SMM A00 ingot price was RMB 19,050 per tonne, we can calculate a Quarter-on-Quarter decline of RMB 110 per tonne or 0.58 per cent.
Brief analogy of the SMM A00 aluminium ingot price market
Though China has been toiling hard with production cuts in Yunnan and power scarcity in Xinjiang, Qinghai and Inner Mongolia for the greater part of December, there have been no estimated upheavals at the beginning of January. The Guinea fuel depot blast on December 18 has been the major reason behind the spike in alumina prices, as China imports most of its raw material from African mines. With the arrival of the New Year, things are slowly straightening out as SMM has predicted the January domestic aluminium output will circulate around a 42 MT bar.
The eight major provinces in China have all recorded declining aluminium prices today, with the highest plunge recorded in Chongqing, where the aluminium price stood at RMB 18,940 per tonne, with a loss of RMB 100 per tonne. In Wuxi, Hangzhou, Tianjin and Linyi, the aluminium prices fell by RMB 80 per tonne, as their individual states have been listed below:
Wuxi – RMB 18,950 per tonne
Hangzhou – RMB 18,940 per tonne
Tianjin – RMB 19,020 per tonne
Linyi – RMB 19,000 per tonne
The aluminium price in Gongyi lost RMB 70 per tonne to park at RMB 18,900 per tonne, and the aluminium price in Shenyang descended by RMB 50 per tonne to close at RMB 19,020 per tonne. Lastly, in Foshan, there was a slight decline of RMB 10 per tonne, with the aluminium price officially closing at RMB 19,030 per tonne.
The high-purity aluminium (99.99%) and the high-purity aluminium (99.996%) prices have both negated RMB 100 per tonne to officiate at RMB 26,600 per tonne and RMB 27,600 per tonne.
China’s heightening alumina spot price
China’s average alumina spot price has soared by RMB 1 per tonne to poise at RMB 3,335 per tonne, while the alumina spot price in Shandong has scored RMB 5 per tonne to settle at RMB 3,205 per tonne. If the alumina spot price on December 15 is taken into consideration, we can see a Month-on-Month steep rise of RMB 339 per tonne or 11.31 per cent till today.
The aluminium alloy (A356) price has decreased by RMB 100 per tonne to halt at RMB 19,550 per tonne, while the aluminium alloy (A360) and aluminium alloys (ADC12) prices have dived by RMB50 per tonne to anchor at RMB 19,850 per tonne and RMB 20,000 per tonne.
The aluminium powder price in China has shed RMB 0.10 per kg to close at RMB 21.50 per kg, with the average prices hovering between RMB 21.40 per kg and RMB 21.60 per kg.
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