Alumina price in China climbs RMB91/t to settle at RMB3884/t; A00 aluminium ingot price exceeds RMB23000/t yet again

The average alumina spot price in China has hiked by RMB 91 per tonne on Tuesday, October 12, following restraint at RMB 3,884 per tonne from October 8 to October 11. According to the Shanghai Metals Market, the increase has brought the alumina spot price to RMB 3,975 per tonne.

In Henan and Shanxi, alumina price has surged by RMB 100 per tonne to stand at RMB 4,000 per tonne, while the price in Shandong and Guangxi has climbed by RMB 75 per tonne to RMB 3,950 per tonne and RMB 3,775 per tonne, respectively. In Guizhou, alumina price has gained RMB 50 per tonne to peg at RMB 3,900 per tonne.

Australian alumina FOB price, on the other hand, has remained unchanged at US$480 per tonne as of October 12, learned SMM.

Among other primary aluminium input costs, caustic soda (32% concentration) price in Shandong has grown by RMB 30 per tonne to settle at RMB 1,440 per tonne on October 12. The average prices are expected to range between RMB 1,300 per tonne and RMB 1,580 per tonne.

Caustic soda (50% concentration) price in Shandong has increased by RMB 50 per tonne to stand at RMB 2,275 per tonne. The average prices are expected to range between RMB 2,000 per tonne and RMB 2,550 per tonne. 

Backed on the hike in input costs, A00 aluminium ingot price has soared by RMB 400 per tonne to exceed RMB 23,000 per tonne yet again. According to SMM data, the price is standing at RMB 23,210 per tonne as of October 12, with average prices expected to range between RMB 23,190 per tonne and RMB 23,230 per tonne. The spot contract is likely to be traded at a premium price of RMB 60-20 per tonne.

Among major Chinese cities, Hangzhou has increased the highest by RMB 415 per tonne to stand at RMB 23,220 per tonne, followed by the increase of RMB 410 per tonne in Wuxi to RMB 23,220 per tonne and RMB 405 per tonne in Shenyang to RMB 23,200 per tonne, found SMM.