Alumina spot price in China slips by RMB7/t on Monday; A00 aluminium ingot price records a drop of RMB10/t

The average alumina spot price in China has initiated the week with a further drop of RMB 7per tonne to settle at RMB 2,799 per tonne as of Monday, October 24, according to the Shanghai Metals Market (SMM). Among the major consumption cities, Guangxi has witnessed a decline of RMB 20 per tonne to RMB 2,750 per tonne, followed by a dip of RMB 5 per tonne in Guizhou to RMB 2,765 per tonne.

The Australian alumina FOB price has remained restrained at US$310 per tonne as of October 24.

A00 aluminium ingot price has also seen a drop of RMB 10 per tonne, following a week-end growth of RMB 220 per tonnes, found SMM. Thus, the price now stands at RMB 18,650 per tonne, with average prices to be traded at a premium price of RMB 18,630 per tonne and RMB 18,670 per tonne. The spot contract is likely to be traded at a premium price of RMB 10-50 per tonne.

However, the drop in primary aluminium ingot price has not touched upon all the major Chinese cities except Gongyi, Tianjin and Linyi. In Gongyi and Tianjin, A00 aluminium ingot price has slipped by RMB 10 per tonne to RMB 18,630 per tonne, while the price in Linyi has contracted by RMB 60 per tonne to close at RMB 18,650 per tonne.

Meanwhile, in Hangzhou and Wuxi, A00 aluminium ingot price has jumped by RMB 220 per tonne to come in at RMB 18,690 per tonne and RMB 18,670 per tonne, respectively, followed by the increase of RMB 20 per tonne in Foshan to RMB 18,790 per tonne. In Chongqing and Shenyang, on the other hand, primary aluminium ingot price has remained unchanged at RMB 18,790 per tonne and RMB 18,600 per tonne, respectively.

China’s low-carbon aluminium price has recorded an increase of RMB 29 per tonne to RMB 19,398 per tonne, learned SMM.

Among other primary aluminium input costs, caustic soda (32% concentration) price in Shandong has plunged by RMB 70 per tonne to peg at RMB 1,175 per tonne as of October 24. The average prices are expected to range between RMB 1,150 per tonne and RMB 1,200 per tonne.

Caustic soda (32% concentration) price in Henan has registered a downfall of RMB 50 per tonne to clock at RMB 3,970 per tonne, with average prices to hover around RMB 3,740-4,200 per tonne.