Alumina price drops by RMB5/t in China after two consecutive days of restraint; A00 aluminium ingot price rises to RMB12790/t

After remaining restrained for the two consecutive days following a rise to RMB 2,211 per tonne, the average alumina spot price in China has dipped by RMB 5 per tonne to RMB 2,206 per tonne on Thursday, May 14, found Shanghai Metals Market. In the east, the average alumina price has declined by RMB 25 per tonne to RMB 2,175 per tonne, while that in the north has plunged by RMB 10 per tonne to RMB 2,215 per tonne. In the central and south, however, the price has recorded no change from RMB 2,200 per tonne and RMB 2,520 per tonne, respectively.

The Australia alumina FOB price has also remained restrained at US$ 241 per tonne after dwindling by US$ 1 per tonne on the last day. The imported alumina price is continuing at RMB 2,190 per tonne.

The A00 aluminium ingot price, on the other hand, has recorded an increase of RMB 20 per tonne to stand at RMB 12,790 per tonne on May 14, following a sharp fall from RMB 13,040 per tonne to RMB 12,770 per tonne on May 13. The average prices are expected to range between RMB 12,770 per tonne and RMB 12,810 per tonne, with spot contract to be traded at a discount and premium price of RMB 10-30 per tonne.

Among the major Chinese provinces, Tianjin has seen the highest rise today of RMB 90 per tonne to RMB 12,840 per tonne, followed by an increase of RMB 70 per tonne in Hangzhou to stand at RMB 12,820 per tonne and RMB 50 per tonne in Shenyang to RMB 12,795 per tonne. In Wuxi and Foshan, the A00 aluminium ingot price has hiked by RMB 35 per tonne and RMB 20 per tonne to RMB 12,800 per tonne and RMB 12,790 per tonne, respectively. In Gongyi, however, the price has fallen by RMB 20 per tonne to RMB 12,800 per tonne.

The prices of aluminium alloys have remained restrained. While the aluminium alloys (ADC12) price is hovering at RMB 13,950 per tonne, the aluminium alloy (A356) and aluminium alloy (A380) prices are standing at RMB 13,550 per tonne and RMB 14,850 per tonne, respectively.