A00 aluminium ingot price declines on inventory gain; alumina price records a drop too

As the primary aluminium inventories have gained over the week ended on March 14 across China, the A00 aluminium ingot price has recorded a drop today, on March 15, by RMB 30 per tonne to RMB 13,800 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 13,780 per tonne and RMB 13,820 per tonne, with spot discount to settle at RMB 40 per tonne.

The decline in aluminium ingot price has touched all the markets in China and thus the price in the east (Wuxi and Hangzhou) has recorded a drop by RMB 25 per tonne to clock at RMB 13,790 per tonne. In the south and north, on the other hand, the price dipped by RMB 70 per tonne and RMB 30 per tonne to be at RMB 13,750 per tonne and RMB 13,760 per tonne, respectively.

Today, the alumina spot price has also registered a decline, and that could be another reason for the price drop of the A00 aluminium ingot. After inching down by RMB 13 per tonne from RMB 2,726 per tonne, the alumina price today is standing RMB 2,713 per tonne.

In the central and north, the alumina spot price has dropped by RMB 10 per tonne and RMB 20 per tonne to stand at RMB 2,720 per tonne and RMB 2,700 per tonne, while in the south the price has plunged by RMB 50 per tonne to RMB 2,725 per tonne. In the east, however, the alumina price has shown restraint at RMB 2,720 per tonne.

The Australian alumina FOB price has also recorded no movement from US$398 per tonne. Other input costs too continue being at their respective previous prices, like bauxite at RMB 550 per tonne, the prebaked anode at RMB 3,350 per tonne, aluminium fluoride at RMB 10,000 per tonne, and aluminium powder at RMB 17.40 per kg.