On Thursday November 25, the average alumina spot price has plummeted after 4 days of remaining restraint. The recorded price closed at RMB 3,496 per tonne, showing a decrease of 5.28 percent or RMB 195 per tonne, found the Shanghai Metals Market.
The average alumina price in Henan has descended by RMB 225 per tonne to total at RMB 3,500 per tonne, followed by the decrease in price of Shandong by RMB 75 to close at RMB 3,575 per tonne. In Shanxi, the price levelled down by RMB 210 per tonne to settle at RMB 3,490 per tonne, while in Guizhou the price is hovering around RMB 3,475 per tonne, showing a decrease of RMB 115 per tonne. In Guangxi and Lianyungang, the average alumina price descended by RMB 100 per tonne and RMB 90 per tonne to total at RMB 3,450 per tonne and RMB 3,550 per tonne, respectively. In Bayuquan, the price has moved down by RMB 125 per tonne to close at RMB 3,575 per tonne.
Australian alumina FOB price has seen no change and stands at US$385 per tonne, as of Thursday, November 25.
Amid the decrease in the average alumina price, A00 aluminium ingot price has moved up by RMB 200 per tonne to close at RMB 19,320 per tonne, as of November 25. The average prices are expected to stand between RMB 19,300 per tonne and RMB 19,340 per tonne, with spot contract to be traded at a premium price of RMB 90-50 per tonne.
In Gong Yi, primary aluminium ingot price has escalated by RMB 180 per tonne to stand at RMB 19,240 per tonne. This was followed by the increase of RMB 200 per tonne in Foshan to close at RMB 19,390 per tonne. The primary aluminium ingot price in Wuxi and Hang Zhou, has climbed by RMB 230 per tonne to settle at RMB 19,310 per tonne and RMB 19,330 per tonne, respectively. In Chong Qing as well, the price has shifted up by RMB 190 per tonne to record at RMB 19,300 per tonne. In other provinces like Shen Yang and Tian Jian, the price has surged by RMB 280 per tonne and RMB 270 per tonne, to close at RMB 19,280 per tonne, respectively. In Linyi, the primary average aluminium ingot price has shifted down by RMB 80 per tonne to settle at RMB 19,170 per tonne.
Aluminium alloy (A356) price has increased by RMB 200 per tonne to close at RMB 21,850 per tonne, as of November 25. The average prices are likely to range between RMB 21,800 per tonne and RMB 21,900 per tonne, as per SMM.
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