China's A00 aluminium ingot market experienced incline in price by RMB 80/t today, with the bauxite price rising by US$ 0.01/t

According to the Shanghai Metal Market survey (SMM), as of 30th August, China’s A00 aluminium ingot price has surged by RMB 80 per tonne after a huge downfall the previous day by RMB 250 per tonne. Today, the average aluminium price closed at RMB 19,630 per tonne.  The week ends on a more or less stable note as the entire week saw a positive market trend.

The average price of A00 aluminium ingot is hovering between RMB 19,610 per tonne to RMB 19,650 per tonne, while the spot contract is likely to be traded at a discount price of RMB 100 per tonne to RMB 60 per tonne with an average of RMB 80 per tonne.

The price of low-carbon aluminium has also been improved by 78 per tonne, now standing at RMB 20,454 per tonne. High-purity aluminium (99.99%) and (99.996%) have seen no change from the previous day, sticking at RMB 26,700 per tonne and RMB 27,700 per tonne, respectively.

Region-wise analysis:

The average price of aluminium ingot also experiences an overall upward trend across all provinces of China. Like, the price has mostly increased by RMB 110 per tonne and RMB 100 per tonne in Gongyi and Chongqing; this brings the average price to RMB 19,570 per tonne in Gongyi and RMB 19,600 per tonne in Chongqing. The price is up by RMB 80 per tonne in Wuxi, Hangzhou and Shenyang to peg at RMB 19,630 per tonne, RMB 19,640 per tonne and RMB 19,580 per tonne respectively. In Foshan, Tianjin and Linyi provinces, the price ascended by RMB 70 per tonne, RMB 50 per tonne and RMB 30 per tonne, where the price stands at RMB 19,520 per tonne, RMB 19,650 per tonne and RMB 19,630 per tonne accordingly

Other prices:

After more or less two weeks, the prices of raw materials like imported bauxite have changed, though very minorly, to settle at US$ 76.12 per tonne, rising by US$ 0.01 per tonne. Domestic bauxite price has remained the same from the previous day at RMB 640 per tonne. Also, the alumina price closed at RMB 3,921 per tonne, which was unchanged from the previous day.

Aluminium alloy ingot:

The price of aluminium alloys ingot (ADC12) has soared by RMB 50 per tonne in the east and south regions, standing at RMB 20,200 per tonne, ranging from RMB 20,100 per tonne to RMB 20,300 per tonne. The price remains the same in the southwest and northeast regions at RMB 20,300 per tonne and RMB 20,300 per tonne, respectively. Aluminium alloy ingot (A380) and (A356) is also following the trend of improving by RMB 50 per tonne to clock at RMB 21,250 per tonne and 20,050 per tonne, fluctuating between RMB 21,100 per tonne to RMB 21,400 per tonne and RMB 19,900 per tonne to RMB 20,200 per tonne. But mostly the price increases by RMB 100 per tonne in the case of aluminium alloy ingot (A360), averaging at RMB 20,350 per tonne, hovering between RMB 20,250 per tonne to RMB 20,540 per tonne.

Market analysis:

The market for A00 aluminium ingot experienced positive market sentiment for the entire week, but according to market analysis, the price may continue to increase in the near future.