The average alumina spot price in China has seen a spike today, on August 31, marking a steady rise since the end of July 2021, found the Shanghai Metals Market. Data shows alumina price has come in at RMB 2,898 per tonne as of August 31, surging by RMB 96 per tonne.
In Shanxi and Henan, alumina price has jumped by RMB 115 per tonne and RMB 110 per tonne to close at RMB 2,940 per tonne and RMB 2,925 per tonne, respectively, followed by the growth of RMB 75 per tonne in Guizhou to peg at RMB 2,675 per tonne. In Shandong and Guangxi, alumina spot price has increased by RMB 55 per tonne and RMB 50 per tonne to come in at RMB 2,865 per tonne and RMB 2,725 per tonne, respectively, as of August 31.
Australian alumina FOB price has, however, remained restrained at US$ 320 per tonne after an increase of US$15 per tonne in the previous day.
Among other primary aluminium input costs, China’s aluminium fluoride price has surged by RMB 250 per tonne to peg at RMB 8,050 per tonne, with average prices likely to range between RMB 7,600-8,500 per tonne. Cryolite price has soared by RMB 400 per tonne to stand at RMB 6,400 per tonne, with average prices estimated to range between RMB 6,000-6,800 per tonne.
Backed on the spike in input costs, A00 aluminium ingot price has continued to record a sharp rise of RMB 210 per tonne to settle at RMB 21,240 per tonne on August 31. The average prices are expected to range between RMB 21,220-21,260 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne.
Aluminium alloys (ADC12) price and aluminium alloy (A380) price have jumped by RMB 250 per tonne to close at RMB 20,900 per tonne and RMB 22,100 per tonne, while aluminium alloy (A356) price has climbed by RMB 200 per tonne to come in at RMB 21,850 per tonne, learned SMM.
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