SMM alumina price continues its growth trajectory, ascending by RMB13/t; A00 aluminium ingot price jumps by RMB100/t

According to the Shanghai Metals Market (SMM) survey, as of September 24, 2024, the average alumina price has shown steady growth, indicating the growing demand for the raw materials. As of today, the alumina price has surged by RMB 13 per tonne to peg at RMB 4,039 per tonne.

Region wise price rise for alumina:

The average alumina price has increased in all regions except Henan, Lianyungang and Bayuquan. As per the SMM data, the price in Shanxi has heightened by RMB 25 per tonne with an average of RMB 4,085 per tonne. Shandong and Guizhou regions experienced a hike in price by RMB 10 per tonne to close at RMB 4,010 per tonne and RMB 4,015 per tonne, respectively. Also, in Guangxi, the price has increased by RMB 15 per tonne, averaging at RMB 4,025 per tonne.

Rising demand from aluminium producers and supply constraint issues owing to recent production cuts at Alcoa and Rio Tinto’s alumina refineries in Australia have contributed to the unprecedented growth in alumina prices. The top alumina exporting nations have been facing supply chain issues and disruptions in production since Q2 of 2024. This has resulted in an alumina availability crunch.

Domestic aluminium ingot price:

Following an earlier hike in average alumina price, the average SMM A00 aluminium ingot price has again ascended by RMB 100 per tonne after a huge downfall in the previous day to officially close at RMB 19,800 per tonne. Aluminium prices have risen to maintain the price as it was 18 days before. Although prices have surged by 0.3 per cent since August 24, they are expected to increase further as supply constraints persist. The average prices ranging between RMB 19,780 per tonne and RMB 19,820 per tonne. The spot contract is likely to be traded at a discount price of RMB 70 per tonne to RMB 30 per tonne, with an average of RMB 50 per tonne.

China’s low-carbon aluminium price has risen by RMB 93 per tonne to close at RMB 20,630 per tonne. The prices for high-purity aluminium (99.99% and 99.996%) have also jumped by RMB 100 per tonne to officiate at RMB 26,800 per tonne and RMB 27,800 per tonne, respectively. The high-purity aluminium prices are ranging between RMB 26,400 per tonne to RMB 27,200 per tonne for 99.99% purity and RMB 27,400 per tonne to RMB 28,200 per tonne for 99.996% purity.

Regin-wise analysis:

Today, aluminium prices have inclined across eight main provinces in China. The average prices have surged by RMB 100 per tonne in provinces like Wuxi, Hangzhou, Chongqing, Shenyang and Linyi. This brought aluminium prices to RMB 19,810 per tonne in Wuxi, RMB 19,820 per tonne in Hangzhou, RMB 19,800 per tonne in Chongqing, RMB 19,750 per tonne in Shenyang and RMB 19,770 per tonne in Linyi. In provinces like Foshan and Tianjin, the average price is up by RMB 90 per tonne and RMB 70 per tonne to peg at RMB 19,640 per tonne and RMB 19,820 per tonne. Also, the average price has climbed by RMB 120 per tonne in Gongyi province to clock at RMB 19,720 per tonne.

Other prices:

The domestic and imported Bauxite prices remain unchanged from the previous day at US$ 76.61 per tonne for imported bauxite and RMB 640 per tonne for domestic bauxite.

Aluminium alloy ingot prices:

The price of aluminium alloy ingot has also upsurged like alloy (A356) and (A360) are up by RMB 100 per tonne to arrive at RMB 20,250 per tonne and RMB 20,500 per tonne, respectively, hovering around RMB 20,100 per tonne to RMB 20,400 per tonne and RMB 20,400 per tonne to RMB 20,600 per tonne. Aluminium alloys (ADC12) prices have up-swinged by RMB 50 per tonne to stand at RMB 20,500 per tonne in the east and south regions, fluctuating between RMB 20,400 per tonne to RMB 20,600 per tonne. Southwest and the northeast region remain the same at RMB 20,500 per tonne and RMB 20,400 per tonne, respectively. The price of aluminium ingot (A380) settles at RMB 21,500 per tonne (up by RMB 50 per tonne), ranging from RMB 21,400 per tonne to RMB 21,600 per tonne.

Note: We are pleased to announce that the AL Circle website now includes CME (Futures) aluminium prices in addition to the previously available LME and SHFE aluminium prices. We invite you to explore this expanded offering in our price section for the most comprehensive and up-to-date aluminium pricing information.