
The A00 aluminium ingot price has again recorded a sweeping growth of RMB 150 per tonne to stand at RMB 14,380 per tonne, as of August 20, according to Shanghai Metals Market. The average prices are expected to range between RMB 14,360 per tonne and RMB 14,400 per tonne, with spot contract to be traded at a discount and premium price of RMB 20 per tonne.

This rise followed the drop of 2,000 tonnes in social inventories of primary aluminium and increase in spot alumina price by RMB 8 per tonne on Monday, August 19. The A00 aluminium ingot price is now standing the highest since the last three months when the price was at RMB 14,360 per tonne on May 16, 2019.
Primary aluminium production cut at some of the Chinese smelters, resulting in daily and monthly output curb, could also be attributed to the aluminium ingot price growth. According to the research house Antaike, around 220,000 tonnes of annual production was cut in July, including China Zhongwang Holding’s smelter in the northeast province of Liaoning. Also, smelter ramp-up in many parts of China progressed slower than expected, which also contributed to the tight supply and therefore, the surge in ingot price.
Today, the average spot price of alumina has continued to rise by RMB 4 per tonne to come in at RMB 2,454 per tonne.
Aluminium alloys (ADC12) price has also registered a growth of RMB 50 per tonne to RMB 14,050 per tonne, backed on A00 aluminium ingot price rise. Aluminium alloy (A356) and aluminium alloy (A380) prices have also increased by RMB 50 per tonne to stand at RMB 15,000 per tonne and RMB 14,900 per tonne, respectively.
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