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26 SEPTEMBER 2022 AL CIRCLE

Alumina spot price in China drops for sixth day in a row by RMB12/t; A00 aluminium ingot price descends by RMB240/t

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

The average alumina spot price in China has decreased for the sixth day in a row by RMB 12 per tonne to stand at RMB 2,881 per tonne on Monday, September 26. Over a week, the price has dwindled by RMB 40 per tonne from RMB 2,921 per tonne, found the Shanghai Metals Market.

Alumina spot price in China drops for sixth day in a row by RMB12/t

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The decline in domestic price is seen across all the leading alumina producing areas to varying degrees, as the fall in demand has outpaced the drop in supply. In Guangxi, alumina spot price has slipped by RMB 20 per tonne to rest at RMB 2,850 per tonne, while the price in Shandong and Henan has shrunk by RMB 15 per tonne to hover around RMB 2,870 per tonne and RMB 2,940 per tonne. In Shangxi, alumina spot price has dipped by RMB 10 per tonne to settle at RMB 2,830 per tonne.

Meanwhile, Australian alumina FOB price has continued to remain restrained at US$358 per tonne since September 19.

A00 aluminium ingot price has also recorded a downfall, backed on the decline in alumina spot price. As per the SMM data, the ingot price has plunged by RMB 240 per tonne to stand at RMB 18,470 per tonne as of September 26, with average prices to range between RMB 18,450 per tonne and RMB 18,490 per tonne.  The spot contract is likely to be traded at a discount price of RMB 60-20 per tonne.

A00 aluminium ingot price descends by RMB240/t

In Foshan, A00 aluminium ingot price has nosedived by RMB 250 per tonne to settle at RMB 18,480 per tonne, followed by the decline of RMB 240 per tonne in Linyi and Shenyang to RMB 18,470 per tonne and RMB 18,420 per tonne. In Hangzhou and Wuxi, primary aluminium ingot price has descended by RMB 230 per tonne to come in at RMB 18,490 per tonne and RMB 18,470 per tonne, respectively, while the price in Chongqing and Tianjin has slumped by RMB 190 per tonne and RMB 170 per tonne to close at RMB 18,500 per tonne and RMB 18,490 per tonne, learned SMM.

Future of aluminium in transportation sector

Aluminium alloy (A356) price has also initiated the week with a downfall of RMB 250 per tonne to come in at RMB 19,850 per tonne, with average prices to range between RMB 19,700 per tonne and RMB 20,000 per tonne. Aluminium alloys (ADC12) price and aluminium alloy (A380) price have declined by RMB 100 per tonne to close at RMB 19,250 per tonne and RMB 20,250 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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