Alumina price in China drops by RMB4/t resting at RMB2996/t; A00 aluminium ingot price crash-dives RMB230/t

On Tuesday, May 24, the average alumina spot price in China has stopped at RMB 2,996 per tonne, declining by RMB 4 per tonne, as found in the SMM data. The alumina price in Henan has also dropped by RMB 10 per tonne to halt at RMB 3,060 per tonne.

A00 aluminium ingot price has plummeted after four successive rises by RMB 230 per tonne to stand at RMB 20,610 per tonne, as recorded by the Shanghai Metals Market on Tuesday, May 24. The average prices are estimated to range between RMB 20,590 per tonne and RMB 20,630 per tonne, with spot contracts to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne.

This Tuesday, China has revisited a countrywide plunge in the aluminium ingot price, like last week. In Hangzhou, the primary aluminium ingot price has witnessed the highest decline by RMB 260 per tonne to RMB 20,630 per tonne, followed by RMB 230 per tonne cut in Tianjin to RMB 20,560 per tonne. In Wuxi and Linyi, the aluminium ingot prices have plunged by RMB 240 per tonne to stop at RMB 20,600 per tonne and RMB 20,660 per tonne, respectively. Both Gongyi and Chong Qing have witnessed a price decrease of RMB 210 per tonne, with the former falling to RMB 20,610 per tonne and the latter to RMB 20,620 per tonne. Lastly, the aluminium price in Foshan came in at RMB 20,600 per tonne, while the price in Shenyang has recorded at RMB 20,540 per tonne, each with RMB 220 per tonne decline.

In China, the domestic price of low-carbon aluminium has dropped by RMB 210 per tonne to stand at RMB 21,213 per tonne as of May 24.

The prices of high purity aluminium (99.99%) and high purity aluminium (99.996%) have shrunk by RMB 200 per tonne, stopping at RMB 28,700 per tonne and RMB 29,700 per tonne, respectively. The average price of high purity aluminium (99.99%) hovered between RMB 28,200 per tonne and RMB 29,200 per tonne this Tuesday.

To balance the aluminium ingot price fall, the price of aluminium alloy (A356), (A380) and (ADC12) have also failed to rise.

The price of aluminium alloys (ADC12) has fallen by RMB 200 per tonne to stand at RMB 21,100 per tonne, as per the SMM data. The average prices are likely to range between RMB 21,000 per tonne and RMB 21,200 per tonne.

Similarly, the aluminium alloy (A380) price has fallen by RMB 200 per tonne to rest at RMB 22,100 per tonne. However, the aluminium alloy (A356) price has restrained itself at RMB 21,750 per tonne.

Among input costs, the caustic soda (50% concentration) price in Shandong has slipped by RMB 80 per tonne, closing at RMB 1,905 per tonne, with average prices ranging between RMB 1,890 per tonne to RMB 1,920 per tonne, on Tuesday, May 24. The cost of caustic soda (32% concentration) also plunged by RMB 50 per tonne in Shandong to rest at RMB 1,155 per tonne, the prices ranging between RMB 1,100 per tonne and RMB 1,210 per tonne. 

The price of aluminium powder has settled at RMB 22.50 per kg, seeing a fall of RMB 0.20 per kg, with average prices ranging between RMB 22.40 per kg and RMB 22.60 per kg.