Alumina spot price in China declines by RMB25/t after a week-long restraint, A00 aluminium ingot price surges by RMB170/t

The average alumina spot price in China has recorded a decline of RMB 25 per tonne to stand at RMB 2,314 per tonne, following restraints at RMB 2,339 per tonne during August 6-12, found Shanghai Metals Market on August 13. In the north, the price has decreased by RMB 30 per tonne to RMB 2,300 per tonne, while that in the central and east has plunged by RMB 25 per tonne and RMB 20 per tonne to stand, respectively, at RMB 2,315 per tonne and RMB 2,305 per tonne. In the south, however, the average alumina price has remained unchanged at RMB 2,520 per tonne.

The imported alumina price has also registered no change from RMB 2,325 per tonne, but the price of Australian alumina FOB has inched down by US$ 6 per tonne to hover at US$ 265 per tonne.

Among other input costs, the price of aluminium powder has increased by RMB 0.10 per tonne to stand at RMB 18.15 per tonne on Thursday, August 13.

Despite the fall in average alumina price, the A00 aluminium ingot price has recorded a hike of RMB 170 per tonne to RMB 14,620 per tonne, as of August 13, learned SMM. The average prices are expected to range between RMB 14,600 per tonne and RMB 14,640 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne, down by RMB 20 per tonne from the previous day.

In Foshan, Chongqing, and Gongyi, the A00 aluminium ingot price has increased by RMB 180 per tonne to come in at RMB 14,550 per tonne, RMB 14,490 per tonne, and RMB 14,605 per tonne, respectively. In Wuxi, the price has grown by RMB 170 per tonne to RMB 14,610 per tonne, while that in Hangzhou and Shenyang has risen by RMB 165 per tonne and RMB 155 per tonne to RMB 14,605 per tonne and RMB 14,640 per tonne, respectively. The primary aluminium ingot price in Linyi and Tianjin has increased by RMB 100 per tonne and RMB 70 per tonne to respectively stand at RMB 14,710 per tonne and RMB 14,560 per tonne.