China's A00 aluminium ingot price descends to RMB 18,130/t; Average alumina spot price in Shanxi went up by RMB5/t

A00 aluminium ingot price in China has declined by RMB 100 per tonne to settle at RMB 18,130 per tonne as of August 16. The average price for the same is likely to range between RMB 18,110 per tonne to RMB 18,150 per tonne, with spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne.

As per the SMM data, the price in Foshan and Wuxi slumped by RMB 110 per tonne and RMB 100 per tonne to rest at RMB 18,020 per tonne and RMB 18,110 per tonne. On the same day, the prices in Hangzhou, Chongqing and Linyi descended by RMB 80 per tonne to score at RMB 18,160 per tonne, RMB 18,150 per tonne and RMB 18,200 per tonne. The SMM data for Tuesday, August 16, states that the A00 aluminium ingot price in Shenyang and Tianjin has gone down by RMB 70 per tonne to rest at RMB 18,170 per tonne and RMB 18,180 per tonne. The price in Gongyi has climbed down by RMB 20 per tonne to settle at RMB 18,090 per tonne.

For the same day, the average alumina spot price has shown changes in some regions. In Shanxi, the alumina price has increased by RMB 5 per tonne to close at RMB 2,910 per tonne. The alumina price in Guizhou and Guangxi has also decreased by RMB 5 per tonne, scoring at RMB 2,900 per tonne and RMB 2,970 per tonne.

According to the SMM data, the price of aluminium alloy (A356) has shrunk by RMB 100 per tonne to peg at RMB 19,250 per tonne. The average price for the same is expected to range between RMB 19,200 per tonne and RMB 19,300 per tonne. On the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price has remained restrained at RMB 18,800 per tonne and RMB 19,800 per tonne.

The Australian alumina FOB price has fallen by US$3 per tonne to close at US$330 per tonne. The price of low carbon aluminium in China has declined by RMB 110 per tonne to stand at RMB 18,623 per tonne.