A00 aluminium ingot price ends the week with a jump of RMB70/t; Alumina price remains unchanged

After remaining restrained on Thursday, July 18, the A00 aluminium ingot price has decided to end the week with a jump of RMB 70 per tonne to stand at RMB 13,920 per tonne, as of July 19, found Shanghai Metals Market. With this rise, the A00 aluminium ingot price is standing RMB 20 per tonne or 0.14 per cent higher from 13,900 per tonne in the same period last month.

Throughout this week, since July 15, the A00 aluminium ingot price has recorded continued rises, except for a restraint on July 18, ranging between RMB 13,800 per tonne and RMB 13,920 per tonne. Week-on-week, the price is RMB 200 per tonne higher, as it was at RMB 13,720 per tonne on July 12. This significant increase in A00 aluminium price over the week could be attributed to the improved spot aluminium transactions among downstream consumers.

 The average prices today are expected to range between RMB 13,900 per tonne and RMB 13,940 per tonne, with spot contract to be traded at a discount price of RMB 30 per tonne to a premium price of RMB 10 per tonne.

Among major Chinese cities, Foshan has reportedly witnessed the highest price rise of RMB 80 per tonne to RMB 13,910 per tonne followed by Hangzhou, where the price increased by RMB 70 per tonne to RMB 13,930 per tonne. In Wuxi and Gongyi, the price has climbed by RMB 65 per tonne to RMB 13,905 per tonne and RMB 13,790 per tonne, while that in Chongqing and Shenyang by RMB 60 per tonne to RMB 13,900 per tonne and RMB 13,875 per tonne, respectively.

The average spot price of alumina remains unchanged today at RMB 2,547 per tonne, and so are the other raw materials like the pre-baked anode, bauxite, aluminium fluoride, and cryolite at their respective prices.

Aluminium powder price, on the other hand, has recorded a growth from RMB 17.40 per kg to RMB 17.50 per kg, according to SMM data.