Alumina price in China declines by RMB46/t after remaining restrained over a week

According to Shanghai Metals Market on June 13, the average spot price of alumina has inched down by RMB 46 per tonne to RMB 3032 per tonne after remaining restrained at RMB 3078 per tonne May 30 to June 12, 2019.

Since the decline in alumina spot price has touched upon all the major markets in China, the price in the east and central has registered a decrease by RMB 50 per tonne to RMB 3040 per tonne and RMB 3050 per tonne. In the south market, the price has dwindled by RMB 50 per tonne too and standing at RMB 3065 per tonne, while that in the north is hovering at RMB 3000 per tonne after slipping by RMB 40 per tonne.

The Australian alumina FOB price extends its downfall by US$2 per tonne to US$348 per tonne, as of June 13.

Against the background of declined alumina spot price, the A00 aluminium ingot price has decreased today by RMB 20 per tonne to RMB 14,060 per tonne after two consecutive rises from RMB 14,020 per tonne to RMB 14,070 per tonne on June 11 and to RMB 14,080 per tonne on June 12, according to Shanghai Metals Market. The average prices are expected to range between RMB 14,040 per tonne and RMB 14,080 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 40 per tonne.

In most of the cities like Foshan, Hangzhou, Chongqing, Shenyang, Linyi, and Gongyi, the aluminium ingot price has dropped by RMB 20 per tonne, while in Wuxi and Tianjin, the price has inched down by RMB 25 per tonne and RMB 10 per tonne.

Other raw materials prices like bauxite, aluminium fluoride, cryolite, prebaked anode, and aluminium powder have recorded no changes in price from RMB 540 per tonne, RMB 8,900 per tonne, RMB 6,400 per tonne, RMB 3162 per tonne, and RMB 17.60 per kg respectively, as of June 13.