A00 aluminium ingot price soars by RMB530/t after two intermittent declines; Aluminium alloy (A356) price expands to RMB18150/t

A00 aluminium ingot price has soared by RMB 530 per tonne to settle at RMB 17,430 per tonne on Wednesday, March 3, after two intermittent declines on March 1 and 2 from RMB 17,270 per tonne to RMB 16,900 per tonne, according to the Shanghai Metals Market. The average prices are expected to range between RMB 17,410 per tonne and RMB 17,450 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne.

In Foshan, primary aluminium ingot price has jumped by RMB 520 per tonne to reach at RMB 17,430 per tonne, followed by the surge of RMB 510 per tonne and RMB 500 per tonne in Shenyang and Wuxi to come in at RMB 17,380 per tonne and RMB 17,415 per tonne, respectively. In Hangzhou, A00 aluminium ingot price is standing at RMB 17,435 per tonne by also gaining RMB 500 per tonne, while the price in Tianjin and Linyi has increased by RMB 460 per tonne to clock at RMB 17,360 per tonne. In Chongqing and Gongyi, primary aluminium ingot price has grown by RMB 485 per tonne and RMB 440 per tonne to RMB 17,400 per tonne and RMB 17,230 per tonne, respectively.

Backed on the hike in A00 aluminium ingot price, the price of aluminium alloy (A356) has expanded by RMB 550 per tonne to stand above RMB 18,000 per tonne. According to SMM data, aluminium alloy (A356) price has clocked at RMB 18,150 per tonne on March 3, with average prices ranging between RMB 18,100 per tonne and RMB 18,200 per tonne.

The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have grown by RMB 200 per tonne, respectively, to stand at RMB 18,250 per tonne and RMB 19,250 per tonne.

Among the primary aluminium input costs, only aluminium powder price has increased by RMB 0.50 per kg to RMB 20.95 per kg on Wednesday, March 3, found SMM.