According to the Shanghai Metals Market survey, A00 aluminium ingot price has slipped by RMB 60 per tonne over the weekend ended April 3, 2023. Following the increase of RMB 90 per tonne to RMB 18,670 per tonne on March 31, the price has trended down to RMB 18,610 per tonne on April 3. The average prices are expected to range between RMB 18,590 per tonne and RMB 18,630 per tonne, with spot contract to be traded at a discount price of RMB 70-30 per tonne.
Foshan has seen the highest fall for the day of RMB 70 per tonne to rest at RMB 18,730 per tonne, following the fall of RMB 60 per tonne in Wuxi, Tianjin, and Linyi to stand at RMB 18,605 per tonne, RMB 18,590 per tonne, and RMB 18,640 per tonne. In Chongqing and Gongyi, the primary aluminium ingot price has shrunk by RMB 50 per tonne and RMB 40 per tonne to settle at RMB 18,740 per tonne and RMB 18,510 per tonne, and that in Shenyang has dipped by RMB 10 per tonne to clock at RMB 18,630 per tonne.
The domestic price of low-carbon aluminium has plunged by RMB 78 per tonne, standing at RMB 19,312 per tonne, found SMM.
In tandem with the fall of A00 aluminium ingot price, aluminium alloy (A360) price has decreased by RMB 50 per tonne to peg at RMB 19,750 per tonne on April 3. The average prices are estimated to range between RMB 19,600 per tonne and RMB 19,900 per tonne.
However, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained restrained over the weekend at RMB 19,400 per tonne and RMB 19,750 per tonne.
Among primary aluminium input costs, prebaked anode price in Central China has slumped by RMB 520 per tonne to rest at RMB 5,632.50 per tonne, with average prices likely to range between RMB 5,490 per tonne and RMB 5,775 per tonne.
The prebaked anode price in Southwest and Northwest China has also plummeted by RMB 520 per tonne, settling at RMB 5,985 per tonne and RMB 6,010 per tonne, respectively.
The average alumina price has inched down by RMB 1 per tonne, marking the second consecutive day of fall. According to SMM, the slight drop over the weekend has brought the alumina price to RMB 2,933 per tonne.
But the decline today has only touched upon Shanxi among other Chinese provinces. The price there has decreased by RMB 5 per tonne to stand at RMB 2,970 per tonne, with average prices likely to range between RMB 2,950 per tonne and RMB 2,990 per tonne.
The Australian alumina FOB price has also moved down by US$1 per tonne to close at US$362 per tonne as of April 3.
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