Alumina price in China dips by RMB2/t after week-long restraint; A00 aluminium ingot price rises by RMB90/t

After remaining restrained at RMB 2,575 per tonne last week, the average alumina spot price has recorded a dip today, on March 16, by RMB 2 per tonne to RMB 2,573 per tonne, found Shanghai Metals Market. In the north, the price has decreased by RMB 5 per tonne to RMB 2,585 per tonne, while in the east, central, and south remained unchanged at RMB 2,575 per tonne and RMB 2,520 per tonne, respectively.

The Australian alumina FOB price has also recorded a plunge of US$ 2 per tonne to US$ 302 per tonne after a week-long restraint.

But despite the drop in alumina price in the Chinese spot market, the price of A00 aluminium ingot has increased by RMB 90 per tonne to stand at RMB 12,740 per tonne, after five consecutive days of decline ranging between RMB 12,830 per tonne and RMB 12,650 per tonne. However, the average prices are expected to range between RMB 12,720 per tonne and RMB 12,760 per tonne today, with spot contract to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne.

Among the major Chinese cities, Linyi has seen the highest growth of RMB 190 per tonne in A00 aluminium ingot price, followed by Gongyi, where the price has soared by RMB 110 per tonne. In Wuxi, Chongqing, Shenyang, and Tinajin, the ingot price has increased by RMB 100 per tonne and that in Hangzhou and Foshan by RMB 95 per tonne and RMB 90 per tonne, respectively.

The price of aluminium alloy (A356) has also registered a growth of RMB 100 per tonne to RMB 13,450 per tonne, but that of aluminium alloys (ADC12) and aluminium alloy (A380) has remained restrained at RMB 14,600 per tonne and RMB 15,500 per tonne, respectively.