Alumina price extends growth by RMB4/t, while A00 aluminium ingot price falls for the second consecutive day

Recording a rise for the fourth consecutive day, the average alumina spot price in China has come in at RMB 2,480 per tonne on Thursday, February 13, found Shanghai Metals Market. The price has increased by RMB 4 per tonne from RMB 2,476 per tonne yesterday, February 12. While in the east, central, and south, the alumina price has remained restrained, the price in the north has grown by RMB 10 per tonne to RMB 2,500 per tonne. In the east, the price is hovering at RMB 2,480 per tonne and in the central and south at RMB 2,490 per tonne and RMB 2,520 per tonne, respectively.

But despite the rise in alumina price, the price of A00 aluminium ingot has recorded a drop of RMB 40 per tonne to RMB 13,610 per tonne, for the second consecutive day. The average prices are expected to range between RMB 13,590 per tonne and RMB 13,630 per tonne, with spot contract to be traded at a discount price of RMB 80 per tonne to RMB 40 per tonne.

The fall in A00 aluminium ingot price today could be attributed to subdued demand amidst higher arrivals of stocks, resulting in social inventories jump for the second consecutive week.

Wuxi, among all the major Chinese cities, has seen the highest fall of RMB 120 per tonne to RMB 13,610 per tonne, followed by Hangzhou, where the price has decreased by RMB 90 per tonne to RMB 13,640 per tonne. In Foshan and Chongqing, the price has declined by RMB 40 per tonne and RMB 20 per tonne, respectively, to stand at RMB 13,660 per tonne and RMB 13,650 per tonne.

In Tianjin and Gongyi, however, the A00 aluminium ingot price has grown today by RMB 10 per tonne and RMB 15 per tonne, while that in Shenyang and Linyi has remained unchanged.