Alumina price drops by RMB15/t; A00 aluminium ingot price up by RMB50/t due to tight supply

Shanghai Metals Market found the average spot price of alumina fell today, on July 5, by RMB 15 per tonne to RMB 2,723 per tonne, after remaining restrained on July 4. Over the entire week, the alumina spot price showed a downward trend ranging between RMB 2,786 per tonne, as of July 1, and RMB 2,723 per tonne, as of July 5.

In the east and central, the alumina price today has plunged by RMB 20 per tonne to RMB 2,730 per tonne and RMB 2,720 per tonne, respectively, while that in the north and south, the price has inched down by RMB 10 per tonne and RMB 15 per tonne to stand at RMB 2,720 per tonne and RMB 2,735 per tonne.

The Australian alumina FOB price has dwindled as well by US$3 per tonne to US$315 per tonne.

Amidst the decline in alumina spot price, the price of A00 aluminium ingot, however, has recorded a rise by RMB 50 per tonne to RMB 13,810 per tonne, backed by the tight supply in the market, found Shanghai Metals Market. The average prices are expected to range between RMB 13,790 per tonne and RMB 13,830 per tonne, while the spot contract to be traded at a discount price of RMB 10 per tonne to a premium of RMB 30 per tonne.

Tianjin has seen the highest rise in A00 aluminium ingot price today by RMB 55 per tonne to RMB 13,790 per tonne, followed by Wuxi, Chongqing, Shenyang and Gongyi, where the price has increased by RMB 50 per tonne to RMB 13,800 per tonne, RMB 13,820 per tonne, RMB 13,785 per tonne, and RMB 13,725 per tonne, respectively. In Hangzhou, Foshan, and Linyi, the ingot price is up by RMB 35 per tonne and RMB 30 per tonne to RMB 13,830 per tonne and RMB 13,810 per tonne, as of July 5.