Average alumina spot price in China extends growth by RMB7/t, but A00 aluminium ingot price shows restraint

The average alumina spot price in China has extended its rise by RMB 7 per tonne to RMB 2,493 per tonne, as of Wednesday, January 19, according to Shanghai Metals Market. The growth rate is 28 per cent, higher than the previous day. This month has been seeing a positive trend in the alumina spot price as it has rallied from RMB 2,454 per tonne to RMB 2,493 per tonne, with only two intermittent restraints.

In the east and north, the price has increased by RMB 10 per tonne to RMB 2,500 per tonne and RMB 2,510 per tonne, while that in the central and south has remained unchanged at RMB 2,500 per tonne and RMB 2,520 per tonne.

The Australian alumina FOB price has also remained restrained at US$ 285 per tonne, as of today, February 19.

The average A00 aluminium ingot price in the spot market has shown no change either from RMB 13,610 per tonne, found Shanghai Metals Market. The spot contract has decreased on the timid market and likely to be traded at a discount price of RMB 110 per tonne to RMB 70 per tonne. But in almost all the major cities, the ingot price has recorded a hike.

For instance, in Shenyang and Tianjin, the price has increased by RMB 30 per tonne to RMB 13,635 per tonne and RMB 13,620 per tonne, respectively. In Hangzhou and Gongyi, the price has grown by RMB 20 per tonne to RMB 13,610 per tonne and RMB 13,505 per tonne, while that in Foshan, Wuxi, and Chongqing has inched up by RMB 10 per tonne to RMB 13,670 per tonne, RMB 13,600 per tonne, and RMB 13,650 per tonne, respectively. Only in Linyi, the price remains restrained at RMB 13,670 per tonne.