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16 FEBRUARY 2023 AL CIRCLE

Alumina spot price in China stands W-o-W low by RMB4/t on February 16; A00 aluminium ingot price declines to RMB18430/t

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

According to the Shanghai Metals Market, the average alumina spot price in China has dipped for the second day in a row by RMB 3 per tonne to stand at RMB 2,946 per tonne on Thursday, February 16. On a week-on-week calculation, the price is down by RMB 4 per tonne from RMB 2,950 per tonne on February 9, but stands 0.44 per cent or RMB 13 per tonne higher than RMB 2,933 per tonne on January 16.

Alumina spot price in China drops for the second day by RMB3/t

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In Guangxi and Shandong, alumina spot price has decreased by RMB 10 per tonne and RMB 5 per tonne, respectively, to settle at RMB 2,870 per tonne and RMB 2,920 per tonne as of Thursday, February 16. But in other major provinces like Henan, Shanxi, and Guizhou, the price has remained restrained at RMB 2,995 per tonne, RMB 2,975 per tonne, and RMB 2,880 per tonne.

On the other hand, the Australian alumina FOB price has hiked by US$8 per tonne to peg at US$371 per tonne, following a restraint on the previous day.

China’s domestic price of A00 aluminium ingot has also recorded a decline of RMB 60 per tonne, following a growth on the previous day. According to SMM data, the price has settled at RMB 18,430 per tonne as of February 16, with average prices likely to range between RMB 18,410 per tonne and RMB 18,450 per tonne. The spot contract is estimated to trade at a discount price of RMB 90-50 per tonne.

The decline in A00 aluminium ingot price has touched upon all the major Chinese provinces except Hanzhou, where the price has grown by RMB 20 per tonne to peg at RMB 18,490 per tonne on February 16. Foshan has seen the highest fall of RMB 70 per tonne on February 16 to stand at RMB 18,430 per tonne, followed by the decline of RMB 60 per tonne in Wuxi and Linyi to RMB 18,420 per tonne and RMB 18,480 per tonne, respectively, found SMM.

The domestic price of low-carbon aluminium has also shrunk by RMB 69 per tonne to stand at RMB 19,013 per tonne as of February 16.

Aluminium alloy (A356) price has declined by RMB 50 per tonne to settle at RMB 19,550 per tonne, with average prices expected to range between RMB 19,400-19,700 per tonne. In contrast, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained muted at RMB 19,650 per tonne and RMB 20,650 per tonne, learned SMM.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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