Alumina spot price in China climbs RMB23/t after over a week-long restraint; A00 aluminium ingot price plunges by RMB260/t

The average alumina spot price in China has climbed by RMB 23 per tonne to RMB 2,667 per tonne on Thursday, August 19, after remaining restrained at RMB 2,644 per tonne from August 6 to 18, found the Shanghai Metals Market.

In Guangxi, the price has increased by RMB 35 per tonne to stand at RMB 2,520 per tonne, followed by the rise of RMB 30 per tonne in Shandong and Henan to RMB 2,670 per tonne and RMB 2,700 per tonne, respectively. In Guizhou and Shanxi, alumina price has witnessed a growth of RMB 20 per tonne and RMB 15 per tonne to RMB 2,510 per tonne and RMB 2,690 per tonne.

Australian alumina FOB price has, however, continued to remain restrained at US$ 300 per kg since July 16, learned SMM.

But despite the increase in the average alumina spot price, A00 aluminium ingot price in China has sharply declined by RMB 260 per tonne to close at RMB 20,080 per tonne on August 19. The average prices are expected to range between RMB 20,060 per tonne and RMB 20,100 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne.

In Wuxi, primary aluminium ingot price has plunged by RMB 320 per tonne to stand at RMB 20,030 per tonne, followed by the decrease of RMB 295 per tonne in Hangzhou to RMB 20,060 per tonne and RMB 290 per tonne in Shenyang to RMB 20,015 per tonne. In Chongqing and Tianjin, A00 aluminium ingot price has reduced by RMB 270 per tonne and RMB 240 per tonne to settle at RMB 20,090 per tonne and RMB 20,110 per tonne, while the price in Foshan and Linyi has declined by RMB 230 per tonne to RMB 20,280 per tonne and RMB 210 per tonne to RMB 20,140 per tonne.

Aluminium alloy (A356) price has also decreased by RMB 300 per tonne to peg at RMB 20,650 per tonne as of August 19, found SMM. The average prices are expected to range between RMB 20,600 per tonne and RMB 20,700 per tonne.