A00 aluminium ingot price extends growth of RMB20/t amidst restrained input costs

According to Shanghai Metals Market, the A00 aluminium ingot price has extended growth over the weekend by RMB 20 per tonne to stand at RMB 13,950 per tonne. This marks the second consecutive rise after the fall on Thursday, August 8, from RMB 13,900 per tonne to RMB 13,880 per tonne. On Friday, August 9, the price grew to RMB 13,930 per tonne. With these two back-to-back rises, the A00 aluminium ingot price is standing RMB 230 per tonne higher, compared to the same period last month. Today, the average prices are expected to range between RMB 13,930 per tonne and RMB 13,970 per tonne, with spot contract to be traded at a premium price of RMB 40 per tonne.

The price in Shenyang has seen the highest rise of RMB 45 per tonne to RMB 13,940 per tonne, following by Tianjin and Wuxi, where the price has increased by RMB 40 per tonne and RMB 35 per tonne to stand at RMB 13,960 per tonne and RMB 13,975 per tonne. In Foshan, Chongqing, and Hangzhou, the ingot price is standing at RMB 13,940 per tonne, RMB 13,965 per tonne, respectively, after growing by RMB 10 per tonne.

As far as the input costs are concerned, neither alumina nor bauxite or the prebaked anode has recorded any change today. While the price of alumina is hovering at RMB 2,442 per tonne, the prices of bauxite and the prebaked anode are standing at RMB 560 per tonne and RMB 3,112 per tonne, respectively. The prices of aluminium fluoride, cryolite, and aluminium powder have also shown restrained today.