Alumina price drops by RMB2/t after a restraint; A00 aluminium ingot price extends decline to RMB20400/t

According to the Shanghai Metals Market, the average alumina spot price in China has slipped by RMB 2 per tonne to settle at RMB 3,012 per tonne on Wednesday, May 18, following a restraint on the previous day. In Shanxi, the alumina price has dropped by RMB 5 per tonne to settle at RMB 2,955 per tonne, while the price in other provinces has remained muted.

A00 aluminium ingot price has also declined on May 18 for the second day in a row by RMB 20 per tonne to stand at RMB 20,400 per tonne, found SMM. The average prices are expected to range between RMB 20,380 per tonne and RMB 20,420 per tonne, with spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne.

Both Gongyi and Foshan have witnessed a price fall of RMB 20 per tonne to RMB 20,340 per tonne and RMB 20,420 per tonne, respectively. In Wuxi, the aluminium ingot price has decreased by RMB 25 per tonne to stop at RMB 20,395 per tonne. Chinese provinces like Hangzhou, Chongqing and Linyi have also experienced a drop of RMB 20 per tonne in the primary aluminium ingot price to RMB 20,450 per tonne, RMB 20,410 per tonne, and RMB 20,480 per tonne. Meanwhile, Tianjin has seen a hike of RMB 30 per tonne to rest at RMB 20,420 per tonne.

According to SMM data, the aluminium alloy (A380) price has fallen by RMB 50 per tonne to come in at RMB 22,300 per tonne, with average prices likely to range between RMB 22,200 per tonne and RMB 22,400 per tonne.

Aluminium alloys (ADC12) average prices are likely to range between RMB 21,200 per tonne and RMB 21,400 per tonne, with the price settled at RMB 21,300 per tonne, down by RMB 50 per tonne. However, the aluminium alloy (A356) price has remained unchanged at RMB 21,600 per tonne.