
Shanghai aluminium prices have reached the highest level on Monday since 2008, fuelled by supply concerns in China, the world’s biggest consumer of the metal. Output curbs in China, the world’s biggest aluminium producer, and political turmoil in Guinea, China’s top source of bauxite, have further boosted China’s A00 aluminium ingot price by RMB 770 per tonne on September 13. According to the Shanghai Metals Market, the price is standing at RMB 23,420 per tonne, with average prices likely to range between RMB 23,400-23,440 per tonne. The spot contract is expected to range between RMB 100-60 per tonne.

Among the main Chinese cities, Gongyi has seen the highest growth of RMB 780 per tonne to stand at RMB 23,260 per tonne, followed by the surge of RMB 760 per tonne in Foshan to reach at RMB 23,500 per tonne. In Hangzhou and Shenyang, primary aluminium ingot price has climbed RMB 750 per tonne to settle at RMB 23,410 per tonne and RMB 23,390 per tonne, while the price in Wuxi and Chongqing has increased by RMB 745 per tonne to RMB 23,405 per tonne and RMB 23,395 per tonne, respectively.
Backed on the continued surge in primary aluminium ingot price, aluminium alloys (ADC12) price and aluminium alloy (A380) price have soared by RMB 1,100 per tonne to close at RMB 23,500 per tonne and RMB 24,700 per tonne on September 13. The average prices are expected to range between RMB 23,400-23,600 per tonne and RMB 24,600-24,800 per tonne, respectively.
_price_grows_above_RMB230000_per_tonne_0_0.png)
Aluminium alloy (A356) price has relatively seen a lesser spike of RMB 800 per tonne to stand at RMB 24,550 per tonne, found SMM.
Among primary aluminium input costs, the average alumina spot price has grown by RMB 72 per tonne to open the week on Monday, September 13, at RMB 3,268 per tonne. In Shandong, alumina price has increased by RMB 175 per tonne to stand at RMB 3,350 per tonne, while the price in Henan and Shanxi has reached at RMB 3,400 per tonne by also climbing RMB 175 per tonne on September 13. In Guizhou and Guangxi, alumina price has expanded by RMB 150 per tonne to come in at RMB 3,200 per tonne.
Responses







