Alumina price in China grows for the fifth day to RMB2847/t; A00 aluminium ingot price stands 1.08% down W-o-W

The average alumina spot price in China has continued to grow for the fifth day in a row by RMB 2 per tonne to close the week on Friday, July 21, at RMB 2,847 per tonne, found the Shanghai Metals Market survey. On a week-on-week basis, the price stood at 0.57 per cent or RMB 16 per tonne higher than RMB 2,831 per tonne.

However, today's growth has not touched upon all the Chinese provinces, except for Guizhou, where the alumina price has increased by RMB 5 per tonne to RMB 2,835 per tonne. The average prices are estimated to range between RMB 2,820 per tonne and RMB 2,850 per tonne.

However, the Australian alumina FOB price has slipped by US$1 per tonne to settle at US$325 per tonne as of July 21.

A00 aluminium ingot price has also closed the week with a rise, standing RMB 30 per tonne higher than the previous day at RMB 18,310 per tonne. The average prices are expected to range between RMB 18,290 per tonne and RMB 18,330 per tonne, with a spot contract to be traded at a premium price of RMB 10-50 per tonne.

In Linyi, A00 aluminium ingot price has climbed up by RMB 80 per tonne to stand at RMB 18,360 per tonne as of July 21, followed by the rise of RMB 60 per tonne in Gongyi to RMB 18,250 per tonne. In Wuxi and Tianjin, the primary aluminium ingot price has gained RMB 40 per tonne to stand at RMB 18,310 per tonne and RMB 18,360 per tonne, while the price in Hangzhou, Chongqing, and Shenyang has grown by RMB 30 per tonne, RMB 20 per tonne, and RMB 10 per tonne to close at RMB 18,310 per tonne, RMB 18,340 per tonne, and RMB 18,230 per tonne, respectively.

But on a week-on-week calculation, the ingot price has shrunk by RMB 200 per tonne from RMB 18,510 per tonne due to the bearish price trend throughout the week.

Meanwhile, aluminium alloys prices have remained restrained on July 21. Aluminium alloy (356) price has continued to stand at RMB 18,950 per tonne, while aluminium alloy (A380) price and aluminium alloys (ADC12) price are muted at RMB 19,600 per tonne and RMB 18,600 per tonne, respectively.