A00 aluminium ingot price in China soars above RMB20,000/t; Alumina price gains RMB25/t

A00 aluminium ingot price in China has continued to rise and exceeded RMB 20,000 per tonne level on Monday, May 10. According to the Shanghai Metals Market, the price has jumped by RMB 340 per tonne to reach a new high of RMB 20,030 per tonne, with average prices likely to range between RMB 20,010 per tonne and RMB 20,050 per tonne and spot contract to be traded at a premium price of RMB 80-40 per tonne.

In Tianjin, A00 aluminium ingot price has soared by RMB 390 per tonne to come in at RMB 20,020 per tonne on May 10, followed by the surge of RMB 365 per tonne in Shenyang to RMB 20,025 per tonne. In Gongyi and Foshan, primary aluminium ingot price has increased by RMB 350 per tonne and RMB 340 per tonne to clock in at RMB 19,900 per tonne and RMB 20,040 per tonne, while the price in Wuxi, Hangzhou, and Chongqing has gained RMB 325 per tonne to stand at RMB 20,045 per tonne, RMB 20,055 per tonne, and RMB 19,980 per tonne, respectively. In Linyi, A00 aluminium ingot price has grown by RMB 310 per tonne to close at RMB 19,990 per tonne, as of May 10.

Among input costs, the average alumina spot price has built up RMB 25 per tonne to settle at RMB 2,376 per tonne on May 10. In Shandong, alumina price has also increased by RMB 25 per tonne to stand at RMB 2,385 per tonne, while the price in Shanxi and Henan has gained RMB 35 per tonne to come in at RMB 2,385 per tonne and RMB 2,375 per tonne, respectively.

The Australian alumina FOB price, on the other hand, has slipped by US$ 2 per tonne to US$ 273 per tonne after over two weeks of restraint, found SMM.

Backed on the surge in A00 aluminium ingot price, aluminium alloy (A356) price has hiked by RMB 400 per tonne to RMB 20,750 per tonne. Aluminium alloys (ADC12) price and aluminium alloy (A380) price have grown even higher by RMB 500 per tonne to RMB 19,500 per tonne and RMB 20,500 per tonne, respectively.