Spot alumina in China stabilizes after continuous fall; A00 ingot on upward trend

Spot alumina prices were on a downward trend in China through November continuing in December, following the downtrend in aluminium. The prices are showing some restraint and stand unchanged today. 

As updated by Shanghai Metals Market, average spot alumina price in China remains unchanged at RMB 2997 per tonne on December 15. Domestic spot alumina prices also remains stable at RMB 3000/t. Domestic prices are expected range within RMB 2930 – 3070 per tonne today.

Spot alumina prices in all other domestic markets also remain unchanged today. Chalco alumina prices and imported alumina prices remain unchanged at RMB 3320 and RMB 3600 per tonne despite the recent drops in domestic prices. 

As for other raw material prices are concerned, bauxite prices and prebaked anode prices remain unchanged in all markets in China.

Aluminium price has been volatile around 5-day moving average. SMM expects downward pressure in medium and long term.  If the raw material prices, especially alumina price settle down in short and medium term, aluminium ingot prices are expected to stay high.

A00 ingot prices in China have increased from RMB 13,980/t on December 14 and stands at RMB 14,050/t today.  In East China’s spot market aluminium is trading at a discount of RMB 120-80 per tonne.

It is noteworthy that China’s primary aluminium output dropped 16.8% year on year to 2.35 million tonne in November, according to the country's National Bureau of Statistics. Total output from January to November stood at 29.54 million tonne, up 1.7% from the same period last year.