China’s A00 aluminium ingot price opens the week with a fall of RMB150/t; Australian alumina price drops to US$369/t

On Monday, February 27, China’s A00 aluminium ingot recorded a decline of RMB 150 per tonne to stand at RMB 18,330 per tonne, with the spot contract price expected to be traded at a discount price of RMB 110 to RMB 70 per tonne. On a W-o-W calculation, a plunge of RMB 360 per tonne was witnessed. The average prices as of today are estimated to range between RMB 18,310 per tonne and RMB 18,350 per tonne.

The A00 aluminium ingot prices have experienced changes in all the major provinces. To begin with, the prices in Foshan and Chongqing have slipped by RMB 170 per tonne and RMB 160 per tonne to halt at RMB 18,330 per tonne and RMB 18,380 per tonne. On the same day in Shenyang, the price has dropped by RMB 150 per tonne to stand at RMB 18,330 per tonne. As per the SMM data, the prices in Wuxi, Tianjin and Linyi have slumped by RMB 140 per tonne to close at RMB 18,325 per tonne, RMB 18,380 per tonne and RMB and RMB 18,390 per tonne. Prices in Hangzhou and Gongyi have fallen by RMB 130 per tonne and RMB 110 per tonne to peg at RMB 18,345 per tonne and RMB 18,280 per tonne.

The domestic price of low carbon aluminium in China has lost RMB 170 per tonne to halt at RMB 18,918 per tonne. The high purity aluminium (99.99%) price and high purity aluminium (99.996%) price have dropped by RMB 100 per tonne to settle at RMB 26,100 per tonne and RMB 27,100 per tonne.

The Australian alumina FOB price has dipped by US$1 per tonne, scoring at US$369 per tonne. The aluminium powder price has inched down by RMB 0.1 per kg to clock at RMB 20.1 per kg, with the average prices standing between RMB 20 to RMB 20.2 per kg.

The price of aluminium alloys (ADC12) and aluminium alloy (A380) have slumped by RMB 100 per tonne to close at RMB 19,650 per tonne and RMB 20,650 per tonne. The average price for (ADC12) is expected to stand between RMB 19,550 per tonne and RMB 19,750 per tonne. For aluminium alloy (A380), the average prices are expected to orbit between RMB 20,550 per tonne and RMB 20,750 per tonne. As per the SMM data, the price of aluminium alloy (A356) has dipped by RMB 150 per tonne to peg at RMB 19,400 per tonne, with the average prices ranging between RMB 19,200 per tonne and RMB 19,600 per tonne.