China’s domestic alumina price gains RMB44/t overnight, bringing it 4.9% W-o-W high; Imported bauxite price adds US$2.57/t

The average alumina spot price in China has added RMB 44 per tonne overnight to reach a new high of RMB 5,253 per tonne on Wednesday, November 6. The continued supply disruption on the suspension of GAC’s bauxite exports from Guinea, while the latter remains the primary source of imported bauxite, has brought the domestic price of Chinese alumina to this high. Based on the historical data from the Shanghai Metals Market, the price is currently 4.9 per cent higher week-on-week compared to RMB 5,007 per tonne and edged a month-on-month hike of 27.87 per cent from RMB 4,108 per tonne.

Image Source: Chinalco

In some major consumption provinces, the price has even surged by RMB 75 per tonne overnight, such as in Guizhou and Guangxi, bringing the price to RMB 5,200 per tonne. In Shandong and Shanxi, the alumina price has heightened by RMB 65 per tonne and RMB 50 per tonne to stand at RMB 5,250 per tonne and RMB 5,350 per tonne, respectively, while the price in Henan has increased by RMB 40 per tonne to RMB 5,250 per tonne.

The Australian alumina FOB price has remained restrained at US$693/t since the last growth of 7.94 per cent on October 16.

Bauxite prices

The persistent supply disruption from Guinea has also propelled a price hike in China’s imported bauxite by US$2.57 per tonne to US$86.82 per tonne on November 6. On a week-on-week calculation, the price is 3.06 per cent higher than US$84.24 per tonne, while on a month-on-month basis, the price is up by 12.04 per cent from US$77.49 per tonne.

Today’s hike in imported bauxite price is primarily due to the Guinean price rise of US$3.5 per tonne on November 6 but partially offset by a marginal growth of US$1 per tonne in imported price from Australia. With the latest increase, China’s imported bauxite price from Guinea stands at US$86 per tonne, averaging between RMB 85 and 87 per tonne, while the imported price from Australia pegs at US$70 per tonne, with average prices between RMB 69 and 71 per tonne.

A00 aluminium ingot price

China’s A00 aluminium ingot price has jumped by RMB 150 per tonne on November 6, reaching RMB 21,210 per tonne. The average prices ranged between RMB 21,190 and RMB 21,230 per tonne, with spot contract traded at RMB 60-100 per tonne.

In Wuxi, A00 aluminium ingot price has surged by RMB 150 per tonne to RMB 21,220 per tonne, followed by an increase of RMB 140 per tonne in Gongyi and Foshan to RMB 21,160 per tonne and RMB 21,070 per tonne, respectively. In Hangzhou and Shenyang, the primary aluminium ingot price has ascended by RMB 130 per tonne to RMB 21,190 per tonne and RMB 21,110 per tonne.

 China’s domestic low-carbon aluminium and high-purity aluminium (99.99%) prices have gained RMB 143 per tonne and RMB 100 per tonne to clock at RMB 22,162 per tonne and RMB 28,200 per tonne, respectively.