Average alumina spot price extends decline by RMB33/t; Prices of A00 aluminium ingot, aluminium alloys remain restrained

The average alumina spot price has extended decline by RMB 33 per tonne to stand as low as RMB 2,498 per tonne, as of Tuesday, March 24, found Shanghai Metals Market. In the east and central, the price has inched down by RMB 40 per tonne to hover at RMB 2,500 per tonne and RMB 2,510 per tonne, respectively. In the north, the price has decreased by RMB 30 per tonne to RMB 2,500 per tonne, but that in the south has remained restrained at RMB 2,520 per tonne.

The imported alumina price has fallen today by RMB 70 per tonne to RMB 2,510 per tonne after remaining restrained throughout the month until March 23 at RMB 2,580 per tonne. The average imported alumina prices today are expected to range between RMB 2,480 per tonne and RMB 2,540 per tonne.

The Australian alumina FOB price has dwindled by US$ 6 per tonne to US$ 270 per tonne.

The A00 aluminium ingot price, on the other hand, has recorded no change today, March 24, from RMB 11,220 per tonne, after the havoc decline of RMB 570 per tonne on March 23. The average prices are expected to range between RMB 11,200 per tonne and RMB 11,240 per tonne, with spot contract to be traded at a discount price of RMB 110-70 per tonne.

However, the restraint today at the average price of primary aluminium ingot is not seen across all the major cities in China. Many cities have seen a rise in the price, while a few have witnessed a decline. For instance, Hangzhou, Foshan, Wuxi, Shenyang, Linyi, and Gongyi have seen a hike, while Chongqing and Tianjin have seen a downfall of RMB 10 per and RMB 40 per tonne. In Hangzhou, the price has grown the highest by about RMB 100 per tonne to RMB 11,310 per tonne.

The aluminium alloys have also shown no change in their prices. Aluminium alloy (ADC12) price has remained at RMB 14,000 per tonne, aluminium alloy (A356) at RMB 11,950 per tonne, and aluminium alloy (A380) at RMB 14,850 per tonne.