A00 aluminium ingot price grows by RMB90/t but stands W-o-W lower; Aluminium alloy (A356) price climbs to RMB19600/t

A00 aluminium ingot price in China has continued to grow by RMB 90 per tonne to score above RMB 18,500 per tonne. According to the Shanghai Metals Market survey, the price stands at RMB 18,530 per tonne on Thursday, March 2, with average prices likely to range between RMB 18,510 per tonne and RMB 18,550 per tonne. The spot contract is estimated to trade at a discount price of RMB 110-70 per tonne.

But despite the rise in the ingot price for the past two consecutive days, it stands lower by RMB 90 per tonne compared to RMB 18,620 per tonne a week ago, learned SMM. And compared to a month earlier, it reflects a downfall of RMB 480 per tonne from RMB 19,010 per tonne.

In Foshan, the primary aluminium ingot price has increased the highest by RMB 100 per tonne on March 2 to stop at RMB 18,560 per tonne, followed by the rise of RMB 90 per tonne in Wuxi and Tianjin to rest at RMB 18,515 per tonne and RMB 18,580 per tonne, respectively. In Gongyi and Hangzhou, A00 aluminium ingot price has gained RMB 80 per tonne and RMB 75 per tonne to peg at RMB 18,440 per tonne and RMB 18,515 per tonne, while the price in Chongqing and Shenyang has built-up RMB 70 per tonne to reside at RMB 18,590 per tonne and RMB 18,510 per tonne, respectively.

China’s domestic price of low-carbon aluminium has surged by RMB 105 per tonne to total RMB 19,137 per tonne as of March 2, 2023, found SMM.

High purity aluminium (99.99%) price has also increased by RMB 100 per tonne to stand at RMB 26,300 per tonne on March 2.

Aluminium alloys prices have also grown in line with the primary aluminium ingot price rise. According to SMM, aluminium alloy (A356) price has climbed RMB 100 per tonne to stand at RMB 19,600 per tonne, with average prices estimated to hover around RMB 19,400-19,800 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have accumulated RMB 50 per tonne to clock at RMB 19,700 per tonne and RMB 20,700 per tonne, respectively.

On the other hand, the average alumina spot price has dipped by RMB 1 per tonne to stand at RMB 2,941 per tonne. In Guangxi, alumina price has shrunk by RMB 5 per tonne reaching at RMB 2,855 per tonne.

Among other primary aluminium input costs, aluminium powder price has inched up by RMB 0.10 per kg to stop at RMB 20.30 per kg. The average prices are likely to range between RMB 20.2-20.4 per kg.