Alumina price in China increases by RMB9/t after an intermittent restraint; Primary ingot price jumps above RMB18500/t

The average alumina spot price has continued to increase after an intermittent restraint on Friday, June 4. According to the Shanghai Metals Market, the price on June 7 has gained RMB 9 per tonne to come in at RMB 2,485 per tonne.

In Shandong, alumina price has climbed by RMB 20 per tonne to RMB 2,490 per tonne, while the price in Henan and Shanxi has expanded by RMB 10 per tonne to come in at RMB 2,490 per tonne and RMB 2,500 per tonne, respectively.

Australian alumina FOB price has recorded a rise as well of US$ 6 per tonne to peg at US$ 285 per tonne, found SMM.

Among other primary aluminium input costs, aluminium powder price has inched up by RMB 0.20 per kg to settle at RMB 22.05 per kg.

A00 aluminium ingot price has also commenced the week on Monday, June 7, with a hike of RMB 270 per tonne to stand at RMB 18,530 per tonne, learned SMM. The average prices are expected to range between RMB 18,510 per tonne and RMB 18,550 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne.

However, the rise in primary aluminium ingot price today has not touched upon all the major Chinese markets such as Tianjin and Linyi. While the former has seen a plunge of RMB 380 per tonne to RMB 18,300 per tonne, the latter has experienced a decrease of RMB 390 per tonne to also stand at RMB 18,300 per tonne, as of June 7.

In Foshan and Chongqing, A00 aluminium ingot price has surged by RMB 320 per tonne and RMB 300 per tonne to peg at RMB 18,820 per tonne and RMB 18,610 per tonne, respectively. In Gongyi and Hangzhou, the price has significantly gained RMB 280 per tonne and RMB 250 per tonne to stand at RMB 18,560 per tonne and RMB 18,510 per tonne, respectively.

Aluminium alloy (A356) price has expanded by RMB 300 per tonne to close at RMB 19,250 per tonne on June 7, found SMM.