Alumina spot price in China extends decline by RMB8/t pulling down the price of A00 aluminium ingot to RMB14920/t

The average alumina spot price in China has extended its decline on Wednesday, August 5, however, slower than the previous day. Today, the price has decreased by RMB 8 per tonne to stand at RMB 2,347 per tonne versus the fall of RMB 32 per tonne last day, according to the Shanghai Metals Market. In the east and central, the alumina price has dwindled by RMB 10 per tonne to RMB 2,340 per tonne and RMB 2,345 per tonne, respectively, while that in the north has inched down by RMB 5 per tonne to RMB 2,340 per tonne. In the south, however, the alumina price has remained restrained at RMB 2,520 per tonne.

The Australian alumina FOB price has declined by US$ 1 per tonne to US$ 272 per tonne, while the imported alumina price has remained unchanged at RMB 2,365 per tonne.

Among other input costs, the price of the prebaked anode in Central has decreased by RMB 35 per tonne to come in at RMB 3,010 per tonne. The price in the east has remained muted at RMB 2,930 per tonne.

Amidst the downtrend in raw materials prices, the A00 aluminium ingot price has also recorded a downfall of RMB 80 per tonne to RMB 14,920 per tonne, as of August 5, found SMM. The average prices are expected to range between RMB 14,900 per tonne and RMB 14,940 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne, up by RMB 10 per tonne from the previous day.

However, since the decline in A00 aluminium ingot price has not touched upon all the major Chinese markets today, the primary aluminium ingot price in Gongyi, Chongqing, and Shenyang has increased by RMB 35 per tonne, RMB 10 per tonne, and RMB 5 per tonne, respectively, to stand at RMB 14,875 per tonne, RMB 14,890 per tonne, and RMB 14,950 per tonne.

In Foshan, Wuxi, and Hangzhou, the A00 aluminium ingot price has plunged by RMB 90 per tonne, RMB 70 per tonne, and RMB 55 per tonne to RMB 14,870 per tonne, RMB 14,920 per tonne, and RMB 14,925 per tonne, respectively, while that in Linyi and Tianjin has dwindled by RMB 60 per tonne and RMB 30 per tonne to stand at RMB 14,910 per tonne.