Alumina spot price grows by RMB16/t after remaining restrained for a day; A00 aluminium ingot price drops further

According to Shanghai Metals Market, the average alumina spot price has recorded a hike of RMB 16 per tonne or 0.72 per cent to stand at RMB 2,236 per tonne, as of Wednesday, June 3. The price in the central has registered the highest growth of RMB 25 per tonne to stand at RMB 2,240 per tonne, while that in the north has grown by RMB 15 per tonne to hover at RMB 2,240 per tonne. In the east and south, the alumina price has, however, recorded no change from RMB 2,215 per tonne and RMB 2,520 per tonne, respectively.

The imported alumina price and also the Australian alumina FOB price have remained restrained on June 3 at RMB 2,190 per tonne and US$ 250 per tonne, found SMM.

The A00 aluminium ingot price, on the other hand, has continued to drop, according to SMM data. The price today is hovering at RMB 13,390 per tonne after declining by RMB 10 per tonne or 0.07 per cent. The average prices are expected to range between RMB 13,370 per tonne and RMB 13,410 per tonne, with spot contract to be traded at a premium price of RMB 100-140 per tonne.

But since the A00 aluminium ingot price decline has not touched upon all the major markets in China, the price in Tianjin and Shenyang has grown by RMB 20 per tonne and RMB 5 per tonne to respectively stand at RMB 13,380 per tonne and RMB 13,360 per tonne. In Hangzhou, the price has remained restrained at RMB 13,420 per tonne.

Other provinces such as Foshan has seen a plunge of RMB 50 per tonne to RMB 13,380 per tonne, while that in Gongyi and Chongqing has decreased by RMB 40 per tonne and RMB 30 per tonne to come in at RMB 13,310 per tonne and 13,400 per tonne, respectively. In Linyi and Wuxi, the A00 aluminium ingot price has dropped by RMB 20 per tonne and RMB 15 per tonne to hover at RMB 13,420 per tonne and RMB 13,390 per tonne.