China’s A00 Aluminium ingot price remains stable at RMB 19,340/t; Alumina price hikes by RMB 1/t

According to the Shanghai Metal Market, alumina prices have again surged by RMB 1 per tonne, reaching RMB 3,943 per tonne. The increase is even higher in the Shandong region, with prices up by RMB 5 per tonne. This brings the average price to RMB 3935 per tonne, fluctuating between RMB 3900 per tonne to RMB 3970 per tonne.

Meanwhile, as of 11th September, the aluminium ingot price on the Shanghai Metal Market (SMM) remains unchanged for the first time this month. This marks a notable pause after several days of fluctuations in the market. The current average price is RMB 19,340 per tonne, from RMB 19,320 per tonne to RMB 19,360 per tonne. The spot contract is expected to trade at a discount of RMB 10 per tonne to a premium price of RMB 30 per tonne, averaging at RMB 10 per tonne.

The average price of low-carbon aluminium has dwindled by RMB 30 per tonne to RMB 20,186 per tonne, while prices for high-purity aluminium (99.99% and 99.996%) remain unchanged at RMB 26,400 per tonne and RMB 27,400 per tonne, respectively, from the previous day.

Regional Analysis:

The average A00 aluminium ingot price fluctuates in some provinces like Gongyi and Shenyang, where in Gongyi, the price is down by RMB 10 per tonne, but in Shenyang, the price is up by RMB 20 per tonne. This brings the average price in these regions to RMB 19,400 per tonne in Gongyi and RMB 19,340 per tonne in Shenyang. Other regions like Foshan, Wuxi, Chongqing, Hangzhou, Tianjin and Linyi maintain the same price at RMB 19,250 per tonne, Wuxi and Hangzhou at RMB 19,340 per tonne, Chongqing at RMB 19,320 per tonne, and both Tianjin and Linyi at RMB 19,390 per tonne.

Other prices:

 The price of domestic bauxite remains unchanged at RMB 640 per tonne. Despite the unchanged prices in the aluminium ingot market, the recent alumina price has increased for two consecutive days.

Aluminium alloy ingot:

There are no changes in the price of aluminium alloy ingot (A356), (A360), (A380) and alloys ingot (ADC12). It remains the same from the previous day, where it averaged RMB 20,100 per tonne for (ADC12), RMB 19,800 per tonne for (A356), RMB 20,050 per tonne for (A360) and RMB 21,100 per tonne for (A380).

Market analysis:

The mismatch between alumina and aluminium ingot prices, where alumina prices are rising but aluminium ingot remains stable, might indicate that producers are absorbing higher raw material costs for now. However, if the alumina price continues to climb up, the market may see a delayed upward adjustment in aluminium ingot price.

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