A00 aluminium ingot price declines by RMB50/t after three days of hike in a row; Australian alumina FOB price shrinks by $2/t

A00 aluminium ingot price has recorded a plunge of RMB 50 per tonne to stand at RMB 14,680 per tonne on Wednesday, September 30, following three consecutive hikes from RMB 14,270 per tonne to RMB 14,730 per tonne during September 24-29, found the Shanghai Metals Market. The average prices today are expected to range between RMB 14,660 per tonne and RMB 14,700 per tonne, with spot contract to be traded at a premium price of RMB 240-280 per tonne, down by RMB 30 per tonne from September 29.

In Gongyi, A00 aluminium ingot price has declined by RMB 90 per tonne to come in at RMB 14,660 per tonne. In Foshan and Wuxi, the primary aluminium ingot price is also standing at RMB 14,660 per tonne but after declining by RMB 80 per tonne. Hangzhou has also witnessed a fall of RMB 80 per tonne to stand at RMB 14,680 per tonne. In Linyi, the price has contracted by RMB 70 per tonne to RMB 14,690 per tonne, while that in Tianjin, Shenyang, and Chongqing has slipped by RMB 55 per tonne, RMB 50 per tonne, and RMB 35 per tonne to stand at RMB 14,635 per tonne, RMB 14,660 per tonne, and RMB 14,670 per tonne, respectively.

The price of aluminium alloy (A356) in China has also registered a plunge of RMB 50 per tonne on September 30 to come in at RMB 15,300 per tonne, according to SMM. The average prices are expected to range between RMB 15,250 per tonne and RMB 15,350 per tonne.

However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 14,900 per tonne and RMB 15,800 per tonne, respectively.

As far as the input costs are concerned, Australian alumina FOB price has dwindled by US$ 2 per tonne to US$ 268 per tonne, as of September 30. China’s aluminium powder price has dipped as well by RMB 0.10 per kg to stand at RMB 18.15 per kg.

Note to readers: AlCircle brings two-day event for aluminium industry players. We look forward to meeting you virtually at “Global Aluminium Expo 2020” on October 6-7, 2020. For registration, visit www.alcircleevents.com