Alumina spot price loses RMB5/t to start the week at RMB2953/t; but A00 aluminium ingot price edges up to cross RMB18500/t

The average alumina spot price in China has again recorded a drop of RMB 5 per tonne on Monday, August 22, after an intermittent restraint on Friday, August 19, found the Shanghai Metals Market. The decline today has brought the alumina spot price to RMB 2,953 per tonne.

In Shandong and Shanxi, alumina spot price has decreased by RMB 10 per tonne to stand at RMB 2,920 per tonne and RMB 2,905 per tonne, with average prices estimated to range between RMB 2,860-2,980 per tonne and RMB 2,880-2,930 per tonne, respectively. However, in other provinces like Henan, Guizhou, and Guangxi, alumina spot price has remained muted at RMB 3,025 per tonne, RMB 2,900 per tonne, and RMB 2,950 per tonne.

The Australian alumina FOB price has continued to remain restrained at US$330 per tonne since August 17, 2022.

Among other primary aluminium raw materials prices, aluminium powder price has dipped by RMB 0.10 per kg to come in at RMB 20.40 per kg. The average prices are expected to range between RMB 20.3 per kg and RMB 20.5 per kg.

A00 aluminium ingot price, on the other hand, has gained RMB 160, marking the second consecutive day of hike. According to the Shanghai Metals Market, the primary aluminium ingot price has come in at RMB 18,580 per tonne, with average prices likely to range between RMB 18,560 per tonne and RMB 18,600 per tonne. The spot contract is estimated to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne.

Among Chinese provinces, Wuxi and Hangzhou have seen the highest growth in primary aluminium ingot price by RMB 170 per tonne to RMB 18,580 per tonne and RMB 18,620 per tonne. In Chongqing and Tianjin, A00 aluminium ingot price has built-up by RMB 160 per tonne and RMB 150 per tonne to stand at RMB 18,510 per tonne and RMB 18,600 per tonne, while the price in Linyi and Foshan has increased by RMB 140 per tonne to RMB 18,610 per tonne and RMB 18,380 per tonne, respectively.

Aluminium alloy (A356) price has rebounded to RMB 20,000 per tonne level by accumulating RMB 150 per tonne. According to SMM, the price has started the week on Monday, August 22, at RMB 20,050 per tonne, with average prices to range between RMB 19,900 per tonne and RMB 20,200 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have witnessed a growth of RMB 50 per tonne to settle at RMB 19,050 per tonne and RMB 20,050 per tonne, respectively.