A00 aluminium ingot price rallies by RMB230/t over the weekend; Aluminium alloys prices grow uniformly by RMB250/t

China’s domestic A00 aluminium ingot price has opened the week on Monday, February 20, with a hike of RMB 230 per tonne to RMB 18,690 per tonne, found the Shanghai Metals Market. This brings the price week-on-week higher by RMB 220 per tonne or 1.19 per cent from RMB 18,470 per tonne but stands low compared to RMB 18,980 per tonne on January 20. According to SMM, the average prices are estimated to range between RMB 18,670 per tonne and RMB 18,710 per tonne, with spot contract likely to trade at a discount price of RMB 100-60 per tonne.

In Foshan, the ingot price has climbed up RMB 240 per tonne to stand at RMB 18,700 per tonne, followed by the rise of RMB 225 per tonne in Wuxi and Hangzhou to RMB 18,680 per tonne and RMB 18,685 per tonne, respectively. In Shenyang and Tianjin, A00 aluminium ingot price has heightened by RMB 220 per tonne and RMB 210 per tonne to RMB 18,710 per tonne and RMB 18,720 per tonne, while the price in Gongyi has increased by RMB 190 per tonne to RMB 18,570 per tonne.

China’s domestic price of low-carbon aluminium has rallied by RMB 240 per tonne over the weekend ended February 20 to peg at RMB 19,286 per tonne, learned SMM.

Among primary aluminium input costs, the average alumina spot price in Bayuquan has escalated by RMB 25 per tonne to exceed RMB 3,000 per tonne on Monday, February 20, while all other Chinese provinces mark no change in the price.

Aluminium powder price has grown by RMB 0.2 per kg to settle at RMB 20.40 per kg, with average prices likely to range between RMB 20.30 per kg and RMB 20.50 per kg.

Aluminium alloys prices have risen significantly and uniformly, in line with the primary aluminium ingot price. According to SMM, aluminium alloys (ADC12) price and aluminium alloy (A356) price have registered a hike of RMB 250 per tonne to stand at RMB 19,900 per tonne and RMB 19,800 per tonne. The average prices are estimated to range between RMB 19,800-20,000 per tonne and RMB 19,600-20,000 per tonne, respectively.

Aluminium alloy (A380) price is no exception but has also increased by RMB 250 per tonne to RMB 20,900 per tonne, found SMM.