Alumina spot price in China declines for the sixth day in a row to RMB3351/t, but A00 aluminium ingot price inches up by RMB10/t

The decline in average alumina spot price in China has been continuing since a week starting from November 25, 2021. According to the Shanghai Metals Market data, the price has decreased by RMB 43 per tonne on Thursday, December 2, to stand at RMB 3,351 per tonne.

In Guangxi and Guizhou, alumina price has plunged by RMB 65 per tonne and RMB 60 per tonne, respectively, to come in at RMB 3,150 per tonne and RMB 3,300 per tonne, while the price in Shanxi has shrunk by RMB 50 per tonne to RMB 3,350 per tonne. In Shandong and Henan, alumina spot price has declined by RMB 40 per tonne to come in at RMB 3,460 per tonne and RMB 3,375 per tonne, as of December 2.

Caustic soda (32% concentration) price in Shandong has inched down by RMB 5 per tonne to hover around RMB 805 per tonne on December 2, while caustic soda (32% concentration) price in Henan has plummeted by RMB 1,325 per tonne to close as low as RMB 2,425 per tonne, learned SMM. The average prices of the former are likely to range between RMB 740 per tonne and RMB 870 per tonne, and the average prices of the latter are estimated to hover between RMB 2,350 per tonne and RMB 2,500 per tonne.

But despite the declines in primary aluminium input costs, A00 aluminium ingot price has inched up, although marginally, on December 2. According to SMM data, the primary aluminium ingot price has slipped by RMB 10 per tonne to peg at RMB 18,900 per tonne on December 2, with average prices likely to range between RMB 18,880 per tonne and RMB 18,920 per tonne. The spot contract is likely to be traded at a premium price of RMB 70-30 per tonne.

However, the increase in primary aluminium price has not touched upon all the major Chinese cities such as Gongyi, Shenyang, Wuxi, and Hangzhou. In Chongqing, A00 aluminium ingot price has grown by RMB 40 per tonne to stand at RMB 18,960 per tonne, while the price in Foshan has climbed by RMB 30 per tonne to come in at RMB 18,990 per tonne. In Tianjin and Linyi, primary aluminium ingot price has gained RMB 10 per tonne to RMB 18,890 per tonne and RMB 18,980 per tonne, respectively.

Aluminium alloys prices have remained restrained today. Aluminium alloys (ADC12) price is continuing at RMB 20,050 per tonne, aluminium alloy (A356) price and aluminium alloy (A380) price have remained restrained at RMB 21,250 per tonne.