SMM A00 aluminium ingot price skyrockets by RMB 360/t along with a surge in imported bauxite by US$ 0.03/t

According to the Shanghai Metals Market (SMM) survey, as of 25th September 2024, China’s average A00 aluminium ingot price has skyrocketed by RMB 360 per tonne to reach RMB 20,160 per tonne. This huge increase brings the average price higher W-o-W by RMB 370 per tonne from RMB 19,790 per tonne. The average prices may range between RMB 20,140 per tonne and RMB 20,180 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 increased significantly, with RMB 404 per tonne close at RMB 21,034 per tonne. The prices for high-purity aluminium (99.99% and 99.996%) have also jumped by RMB 400 per tonne to officiate at RMB 27,200 per tonne and RMB 28,200 per tonne, respectively. The high-purity aluminium prices are ranging between RMB 26,800 per tonne to RMB 27600 per tonne for 99.99% purity and RMB 27,800 per tonne to RMB 28,600 per tonne for 99.996% purity.

Regin-wise analysis:

Today, aluminium prices have inclined extremely across all eight main provinces in China. The average prices have surged by RMB 370 per tonne in Gongyi to clock at RMB 20,090 per tonne. Provinces like Wuxi and Hangzhou experienced a huge price rise of RMB 340 per tonne, with an average of RMB 20,150 per tonne and RMB 20,160 per tonne, respectively. Also, in Foshan and Shenyang, the average price is up by RMB 350 per tonne and RMB 320 per tonne, pegged at RMB 19,990 per tonne and RMB 20,070 per tonne. In Linyi and Chongqing, the prices have hiked by RMB 390 per tonne and RMB 310 per tonne, settling at RMB 20,160 per tonne and RMB 20,110 per tonne. In Tianjin, the price has grown from RMB 240 per tonne to RMB 20,060 per tonne.

Other prices:

The imported Bauxite prices finally surged by US$ 0.03 per tonne to reach at US$ 76.64 per tonne after a stagnation in price over two weeks. However, the domestic bauxite price remains the same at RMB 640 per tonne.

The average alumina price has slightly increased by RMB 4 per tonne to officiate at RMB 4,043 per tonne. All the regions except Shanxi, the average price has remained unchanged from the previous day. In the Shanxi region, the price has escalated by RMB 15 per tonne, averaging at RMB 4,100 per tonne.

Aluminium alloy ingot prices:

The price of aluminium alloy ingot has also improved. Aluminium alloys (ADC12) have increased by RMB 200 per tonne in both regions, bringing the average price to RMB 20,700 per tonne in both east, north and southwest regions and RMB 20600 per tonne in the northeast. Aluminium alloy (A356) and (A360) is up by RMB 350 per tonne to arrive at RMB 20,600 per tonne and RMB 20,850 per tonne respectively, hovering around RMB 20,400 per tonne to RMB 20,800 per tonne and RMB 20,750 per tonne to RMB 20,950 per tonne. The price of aluminium ingot (A380) settles at RMB 21,700 per tonne (up by RMB 200 per tonne), ranging from RMB 21,600 per tonne to RMB 21,800 per tonne.

Market analysis:

The domestic aluminium market is poised for short-term upward fluctuations, driven by favourable macro conditions, stable downstream operations, and pre-holiday restocking. However, caution is advised regarding the potential negative impacts of overseas tariff hikes on domestic aluminium processing enterprises.

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.