Following supply disruptions due to unfavourable weather conditions, blockage on bauxite export from Guinea Alumina Corporation has led China’s domestic average alumina price to a new high at RMB 4,760 per tonne, found the Shanghai Metals Market. Over a day, the price has gained RMB 62 per tonne, bringing it 5.8 per cent W-o-W higher than RMB 4,499 per tonne. Besides, the raised optimism for raw material purchase owing to increased primary aluminium production has also been contributing to the alumina price rally, with industry sources expecting the momentum to continue in the coming months.
{alcircleadd}Today, the price hike in China’s domestic alumina has affected all the major provinces, including Lianyungang and Bayuquan, where bauxite prices have elevated by RMB 110 per tonne and RMB 100 per tonne to stand at RMB 4,100 per tonne in both provinces. Meanwhile, Guizhou saw a hike of RMB 75 per tonne to RMB 4,625 per tonne, while the prices in Shandong, Henan, Shanxi, and Guangxi hovered around RMB 4,700 per tonne.
Alumina price through 2024
According to a year-on-year calculation, China’s average alumina price has recorded a havoc surge of 58.77 per cent. It began 2024 at RMB 3,154 per tonne and reached a new high in mid-year at RMB 3,908 per tonne, escalating by 23.9 per cent. Remaining restrained in the subsequent period till August 21, the alumina price started rising to touch a new 3-year high.
A00 aluminium ingot price
On October 23, China’s domestic A00 aluminium ingot price has recovered the previous day’s loss by gaining RMB 60 per tonne overnight. The price averaged at RMB 20,800 per tonne, ranging between RMB 20,780 per tonne and RMB 20,820 per tonne. Compared to the same period of the earlier month, the price has skyrocketed by more than RMB 1,000 per tonne from RMB 19,700 per tonne.
The provincial prices mostly averaged around RMB 20,800 per tonne, except Foshan, standing at RMB 20,590 per tonne, Chongqing at RMB 20,710 per tonne, and Shenyang at RMB 20,720 per tonne.
China’s low-carbon aluminium price has increased by RMB 70 per tonne to an average of RMB 21,673 per tonne as of October 23. Meanwhile, the prices of high-purity aluminium (99.99 per cent) and high-purity aluminium (99.96 per cent) remained restrained at RMB 27,800 per tonne and RMB 28,800 per tonne, respectively.
In tandem with the growth in A00 aluminium ingot price, the two variants of aluminium alloy ingot – A356 and A360 saw an increase in their respective prices by RMB 50 per tonne to RMB 21,250 per tonne and RMB 21,400 per tonne.
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