China’s domestic average alumina price dips by RMB1/t to RMB2946/t; A00 aluminium ingot price remains muted

According to the Shanghai Metals Market, China’s domestic average alumina spot price has dipped by RMB 1 per tonne to settle at RMB 2,946 per tonne as of Tuesday, February 28. In Henan and Guizhou, alumina price has plunged by RMB 15 per tonne and RMB 5 per tonne to stand at RMB 2,980 per tonne and RMB 2,875 per tonne, while that in other provinces remained restrained.

The Australian alumina FOB price has recorded no change on February 28 following a drop of US$1 per tonne to US$369 per tonne on February 27.

China’s domestic A00 aluminium ingot price has remained muted at RMB 18,330 per tonne, with average prices likely to range between RMB 18,310 per tonne and RMB 18,350 per tonne, found SMM. The spot contract will continue to trade at a discount price of RMB 110-70 per tonne.

However, a few provinces have witnessed a drop in the primary aluminium ingot price. In Gongyi, the price has slipped by RMB 20 per tonne to peg at RMB 18,260 per tonne, while the price in Wuxi and Hangzhou has dipped by RMB 5 per tonne to settle at RMB 18,320 per tonne and RMB 18,340 per tonne, respectively.

SMM survey shows the domestic low-carbon aluminium price has shrunk by RMB 16 per tonne on February 28 to stand at RMB 18,902 per tonne.

Slow consumption in the market and rising inventories have been resulting in the downtrend in A00 aluminium ingot price. Backed on the silent primary aluminium ingot price on February 28, aluminium alloys prices have neither registered any changes. Hence, aluminium alloys (ADC12) price has continued to stand at RMB 19,650 per tonne, aluminium alloy (A356) price at RMB 19,400 per tonne, and aluminium alloy (A380) price at RMB 20,650 per tonne, learned SMM.