SMM alumina price hits milestone reaching RMB5007/t; A00 aluminium ingot price adds RMB50/t

The average alumina spot price in China, without much surprise, has finally reached the RMB 5000 mark. As of today, the price has hiked by RMB 57 per tonne to arrive at RMB 5,007 per tonne, reflecting a Y-o-Y surge of 66.40 per cent. The alumina prices have been growing significantly since September owing to limited bauxite imports, which are crucial for domestic refineries, alongside strong demand for alumina in primary aluminium production.

Source - SHANGHAI HUAMING GONA RARE EARTH NEW MATERIALS

Region-wise price analysis

The prices have shown incredible growth in all the provinces, with the highest in Shanxi, where it has settled at RMB 5,060 after witnessing a hike of RMB 60 per tonne. In Shandong, the alumina price has grown by RMB 60 per tonne to dock at RMB 5,035 per tonne. On the same day, the prices in Henan and Guangxi have expanded by RMB 50 per tonne and RMB 75 per tonne to peg at RMB 5,000 per tonne and RMB 4,950 per tonne. In other regions like Guizhou, Lianyungang and Bayuquan, the prices have spiked by RMB 60 per tonne and RMB 100 per tonne to clock at RMB 4,935 per tonne and RMB 4,600 per tonne.

A00 ingot price

On the other hand, the A00 aluminium ingot price has gained RMB 50 per tonne to settle at RMB 20,850 per tonne, with the spot contract price expected to be traded at a premium price of RMB 10 to RMB 50 per tonne. The average prices may range between RMB 20,830 per tonne and RMB 20,870 per tonne.

In regions like Foshan, Wuxi and Hangzhou, the prices have ascended by RMB 50 per tonne to peg at RMB 20,690 per tonne and RMB 20,850 per tonne. As per the SMM data, the prices in Shenyang and Gongyi have added RMB 40 per tonne and RMB 30 per tonne to arrive at RMB 20,770 per tonne and RMB 20,780 per tonne. On the same day, the prices in Chongqing and Linyi have increased by RMB 20 per tonne to settle at RMB 20,770 per tonne and RMB 20,820 per tonne. Only in Tianjin has the price dropped by RMB 20 per tonne to reach RMB 20,820 per tonne.

Other prices

The domestic price of low carbon aluminium has expanded by RMB 49 per tonne to peg at RMB 21,765 per tonne. The high purity aluminium (99.99%) and high purity aluminium (99.996%) have ascended by RMB 100 per tonne to reach RMB 27,900 per tonne and RMB 28,900 per tonne. The price of aluminium alloy (A356) has moved up by RMB 50 per tonne to settle at RMB 21,300 per tonne, with the average prices expected to range between RMB 21,100 per tonne and RMB 21,500 per tonne.