A00 aluminium ingot price in China returns to RMB18470/t on March 8; Aluminium alloys prices lose RMB100/t

A00 aluminium ingot price in China has again lost RMB 100 per tonne, which it gained the earlier day, according to the Shanghai Metals Market survey. Therefore, as of March 8, the price has returned to RMB 18,470 per tonne, with average prices estimated to range between RMB 18,450 per tonne and RMB 18,490 per tonne. The spot contract will likely trade at a discount price of RMB 70-30 per tonne.

Foshan has seen the highest decline of the day by RMB 110 per tonne to stand at RMB 18,490 per tonne, followed by the downfall of RMB 100 per tonne to peg at RMB 18,540 per tonne. In Wuxi and Hangzhou, the primary aluminium ingot price has dwindled by RMB 95 per tonne and RMB 85 per tonne to rest at RMB 18,470 per tonne and RMB 18,490 per tonne, while the price in Shenyang has decreased by RMB 80 per tonne to close at RMB 18,470 per tonne. In Gongyi and Linyi, A00 aluminium ingot price has fallen by RMB 70 per tonne to RMB 18,420 per tonne and RMB 18,520 per tonne, respectively.

Aluminium alloys prices have recorded a downfall uniformly. Aluminium alloys (ADC12) price, aluminium alloy (A356) price and aluminium alloy (A380) price have plunged by RMB 100 to settle the mid-week at RMB 19,400 per tonne, RMB 19,500 per tonne, and RMB 19,750 per tonne, respectively.

Among primary aluminium input costs, alumina price in Guangxi has dropped by RMB 5 per tonne to stand at RMB 2,830 per tonne as of March 8, with average prices likely to range between RMB 2,800 per tonne and RMB 2,860 per tonne. But the price in all other Chinese provinces has remained restrained.

The Australian alumina FOB price has also remained muted at US$366 per tonne.

Alumina powder price has dipped by RMB 0.1 per kg to rest at RMB 20.2 per kg, with average prices to range between RMB 20.1-20.3 per kg.