A00 aluminium ingot price in China expands by RMB160/t to RMB 18,640/t; Alumina price dips by RMB1/t
On Thursday, August 18, China's A00 aluminium ingot price has gone up by RMB 160 per tonne to settle at RMB 18,640 per tonne, as recorded by the Shanghai Metals Market (SMM). The average price for the same is expected to range between RMB 18,620 per tonne and RMB 18,660 per tonne, with spot contracts to be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne.
The price in Hangzhou has increased by RMB 170 per tonne to rest at RMB 18,680 per tonne. On the same day, the price in Shenyang and Tianjin surged by RMB 160 per tonne to score at RMB 18,590 per tonne. The price in Linyi and Wuxi also witnessed the same price increment to settle at RMB 18,690 per tonne and RMB 18,630 per tonne. As per the SMM data, the price in Chongqing ascended by RMB 150 per tonne to peg at RMB 18,570 per tonne. In Foshan and Gongyi, the A00 aluminium ingot price expanded by RMB 140 per tonne and RMB 120 per tonne to close at RMB 18,490 per tonne and RMB 18,540 per tonne.
Among the input prices, the price of alumina has seen a growth of RMB 1 per tonne to settle at RMB 2,958 per tonne. The average alumina spot price has changed in some of China's major provinces. In Lianyungang and Bayuquan, the price slumped by RMB 50 per tonne to record at RMB 2,975 per tonne and RMB 3,025 per tonne. The price in Guangxi has slipped by RMB 10 per tonne to score at RMB 2,950 per tonne. Lastly, in Shandong, the price went up by RMB 5 per tonne to record at RMB 2,930 per tonne.
The price of aluminium alloy (A356) has been augmented by RMB 400 per tonne to stand at RMB 20,100 per tonne. The average price for the same is expected to range between RMB 20,000 per tonne and RMB 20,200 per tonne. The aluminium alloys (ADC12) price and aluminium alloy (A380) price went up by RMB 150 per tonne to peg at RMB 19,000 per tonne and RMB 20,000 per tonne.
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For aluminium alloys (ADC12), the average price will likely be between RMB 18,900 per tonne and RMB 19,100 per tonne. The average price for aluminium alloy (A380) is expected to range between RMB 19,900 per tonne and RMB 20,100 per tonne.
Hindalco continues to reduce its aluminium ingot price by INR5500/t with effect from August 18
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