China’s alumina spot price stands at a 3-year high; A00 aluminium ingot price sheds off RMB160/t

China’s domestic average alumina spot price has continued to increase for the third day in a row, accumulating RMB 6 per tonne on Wednesday, September 4. According to the Shanghai Metals Market, the price has settled at RMB 3,938 per tonne, marking a week-on-week jump of RMB 17 per tonne and reflecting a 3-year high.

The amalgamation of limited supply and high demand in the domestic Chinese market has buoyed the alumina spot price, taking it to a 3-year high compared to RMB 3,119 per tonne on September 6, 2021.

Alumina prices across provinces

Among the major alumina markets, Henan province has witnessed an overnight increase of RMB 10 per tonne in alumina spot price, reaching RMB 3,925 per tonne, up by RMB 30 per tonne W-o-W. The average prices are estimated to range between RMB 3,860-3,990 per tonne. In Shandong and Shanxi, the prices have escalated by RMB 5 per tonne to close at RMB 3,930 per tonne and RMB 3,950 per tonne as of September 4.

A00 aluminium ingot price

China’s A00 aluminium ingot price plunged again for an alternate day by RMB 160 per tonne to stand at RMB 19,330 per tonne on September 4. On a week-on-week calculation, the price is down by RMB 470 per tonne from RMB 19,800 per tonne, but up by RMB 500 per tonne on a month-on-month basis from RMB 18,830 per tonne.

The domestic A00 aluminium ingot price started rebounding from August 15 following the increase in demand and rallied till August 28, reaching RMB 19,800 per tonne from RMB 19,010 per tonne. After August 28, the ingot price started fluctuating, recording ups and downs alternatively.

Today, the average prices of A00 aluminium ingot are estimated to range between RMB 19,310 per tonne and RMB 19,350 per tonne, with a spot contract to be traded at a discount price of RMB 60-20 per tonne.

Low-carbon and high-purity aluminium prices

On September 4, China’s low-carbon aluminium price slumped by RMB 153 per tonne to come in straight at RMB 20,178 per tonne versus RMB 20,331 per tonne the previous day. The latest downfall has brought the price 2.38 per cent lower than RMB 20,670 per tonne a week ago.  

High-purity aluminium (99%) price has shrunk by RMB 200 per tonne on the same day to stand at RMB 27,400 per tonne, with average prices ranging between RMB 27,000 per tonne and RMB 27,800 per tonne.

Aluminium alloy prices

In tandem with the decrease in A00 aluminium ingot price, China’s aluminium alloy prices have also witnessed downfalls. Among the major categories, aluminium alloy (A356) price and aluminium alloy (A360) price have shed off RMB 150 per tonne to peg at RMB 19,800 per tonne and RMB 20,050 per tonne, respectively. On the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price have declined by RMB 100 per tonne to settle the mid-week at RMB 20,050 per tonne and RMB 21,100 per tonne.