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24 FEBRUARY 2022 AL CIRCLE

Alumina spot price in China plunges by RMB42/t to score at RMB3236/t, but A00 aluminium ingot price remains restrained

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The average alumina spot price in China has plunged by RMB 42 per tonne to score at RMB 3,236 per tonne on Thursday, February 24, found the Shanghai Metals Market. In Shandong, alumina price has nosedived by RMB 90 per tonne to come in at RMB 3,205 per tonne, while the price in Shanxi and Henan has decreased by RMB 50 per tonne and RMB 40 per tonne to peg at RMB 3,200 per tonne and RMB 3,275 per tonne, respectively.

Alumina spot price in China plunges by RMB42/t to score at RMB3236/t

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In Guizhou, on the other hand, alumina spot price has inched down by RMB 10 per tonne to stand at RMB 3,290 per tonne, with average prices likely to range between RMB 3,280 per tonne and RMB 3,300 per tonne.

The Australian alumina FOB price has, however, continued to remain restrained at US$425 per tonne, learned SMM.

But despite the sharp fall in alumina spot price, A00 aluminium ingot price has recorded no change on Thursday, February 24, from RMB 22,700 per tonne. On Wednesday, February 23, the primary aluminium ingot price shrank by RMB 230 per tonne from RMB 22,930 per tonne. The average prices today are estimated to range between RMB 22,680 per tonne and RMB 22,720 per tonne, with spot contract likely to be traded at a premium price of RMB 80-40 per tonne.

Alumina spot price in China plunges by RMB42/t to score at RMB3236/t, but A00 aluminium ingot price remains restrained

However, in some of the major Chinese provinces, A00 aluminium ingot price has climbed up. For instance, in Linyi and Tianjin, the price has grown by RM 30 per tonne to total at RMB 22,690 per tonne, while the price in Gongyi and Shenyang has gained RMB 20 per tonne to come in at RMB 22,520 per tonne and RMB 22,680 per tonne, respectively. In Wuxi and Hangzhou, A00 aluminium ingot has inched up by RMB 10 per tonne to stand at RMB 22,700 per tonne and RMB 22,710 per tonne.

AlCircle Global Aluminium Industry Outlook 2022

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 100 per tonne to total at RMB 22,350 per tonne and RMB 23,350 per tonne, respectively. The average prices are likely to range between RMB 22,250-22,450 per tonne and RMB 23,250-23,450 per tonne.

Tagged with:

Price Alumina price China SMM

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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