A00 aluminium ingot price in China hikes by RMB340/t; Australian alumina FOB price grows by US$14/t

A00 aluminium ingot price in China soared up by RMB 340 per tonne to settle at RMB18,800 per tonne. The average price for the same is likely to orbit between RMB 18,780 per tonne and RMB 18,820 per tonne, with spot contracts to be traded at a discount price of RMB 80 to RMB 40 per tonne.

The aluminium ingot price has shown growth in all the major provinces. In Foshan, the price has spiked by RMB 380 per tonne to record at RMB 18,770 per tonne. In Wuxi, Hangzhou and Chongqing, the price has ascended by RMB 340 per tonne to close at RMB 18,780 per tonne, RMB 18,380 per tonne and RMB 18,820 per tonne. On the same day, in Shenyang and Gongyi, the price halted at RMB 18,780 per tonne and RMB 18,700 per tonne after experiencing a hike of RMB 320 per tonne, respectively. As per the SMM data, the aluminium ingot price in Linyi and Tianjin experienced growth of RMB 290 per tonne and RMB 240 per tonne to halt at RMB 18,800 per tonne and RMB 18,750 per tonne.

The domestic price of low-carbon aluminium in China has increased by RMB 375 per tonne to peg at RMB 19,378 per tonne. The high purity aluminium (99.99%) price and high purity aluminium (99.996%) price hiked by RMB 300 per tonne to score at RMB 27,000 per tonne and RMB 28,000 per tonne.

According to the SMM data, the aluminium alloys (ADC12) price and aluminium alloy (A380) price went up by RMB 200 per tonne to record at RMB 19,400 per tonne and RMB 20,400 per tonne. The average price for the former ranged between RMB 19,300 per tonne and RMB 19,500 per tonne. For the latter, the average price is expected to orbit between RMB 20,300 per tonne and RMB 20,500 per tonne. The price of aluminium alloy (A356) also surged by RMB 350 per tonne to settle at RMB 20,200 per tonne, with the average prices ranging between RMB 20,100 per tonne and RMB 20,300 per tonne.

The Australian Alumina FOB price increased by US$14 per tonne to rest at US$342 per tonne on the same day. The aluminium powder price inched up by RMB 0.3 per kg to halt at RMB 20.8 per kg, with the average prices likely to range between RMB 20.7 per kg and RMB 20.9 per kg.