SMM aluminium and alumina prices decline due to overall subdued demand in the market

SMM

According to the Shanghai Metals Market survey, China’s primary aluminium and input costs have shrunk overnight, indicating muted demand for the commodities. The only exception is bauxite, with its domestic price remaining unchanged and imported price gaining US$ 0.08 per tonne to US$105.84 per tonne.

SMM aluminium and alumina prices decline due to overall subdued demand in the marketImage Source: Caixin

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A00 aluminium ingot price

On Tuesday, December 24, China’s A00 aluminium ingot price has dwindled by RMB 80 per tonne to stand at RMB 19,790 per tonne, averaging between RMB 19,770 and 19,810 per tonne. The provincial prices have also shrunk across the board, with Hangzhou and Shenyang witnessing a decline of RMB 100 per tonne to RMB 19,810 per tonne. Wuxi has also seen a fall of RMB 100 per tonne today, reaching RMB 19,790 per tonne, followed by the downfall of RMB 90 per tonne in Gongyi, Chongqing, and Linyi to RMB 19,720 per tonne, RMB 19,840 per tonne, and RMB 19,870 per tonne, respectively.

The domestic prices of low-carbon aluminium and high-purity aluminium have slipped by RMB 108 per tonne and RMB 100 per tonne, respectively, to peg at RMB 20,965 per tonne and RMB 26,900 per tonne.

Input costs

As per the SMM data, the average alumina spot price has shed off RMB 11 per tonne on December 24 to reach RMB 5,739 per tonne. In Henan and Shanxi, where demand is subdued at present for smelters cutting production capacities due to the winter heating season, alumina prices have decreased by RMB 20 per tonne to reach RMB 5,720 per tonne and RMB 5,760 per tonne, respectively.

In Lianyungang and Bayuquan, alumina prices have slumped by RMB 50 per tonne to RMB 6,050 per tonne.

The domestic bauxite price has continued to remain at RMB 680 per tonne. However, the imported bauxite price has gained RMB 0.08 per tonne to RMB 105.84 per tonne.

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