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20 APRIL 2020 AL CIRCLE

China's alumina price records a growth of RMB51/t after two months of decline; A00 aluminium ingot price rises sharply

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

Shanghai Metals Market found a bullish trend today, as of April 20, throughout the Chinese aluminium market. The prices of alumina to aluminium alloys have recorded significant growth ranging between RMB 50 per tonne and RMB 350 per tonne.

According to SMM data, the average alumina spot price has recorded a rise of RMB 51 per tonne today, after displaying a sluggish trend for over the past two months. The alumina spot price since the mid of February started slowing down from RMB 2,573 per tonne to come as low as RMB 2,064 per tonne, as of April 17. Today, on April 20, the price has jumped by RMB 51 per tonne to RMB 2,115 per tonne.

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Alumina price in China records a growth of RMB51/t after two months of decline

The north of China has seen the highest growth today in alumina price by about RMB 75 per tonne to RMB 2,125 per tonne, followed by the rise of RMB 50 per tonne and RMB 40 per tonne in the east and west of China to RMB 2,115 per tonne.

The imported alumina price and also the price of Australian alumina FOB have remained restrained at RMB 2,075 per tonne and US$ 225 per tonne, respectively.

Industry 4.0 in Aluminium

The rise in domestic alumina demand and consumption owing to the disruptions in the supply of seaborne alumina due to the severe outbreak of COVID19 globally could be attributed to the growth in the domestic alumina spot prices.

The A00 aluminium ingot price has extended its rise sharply by about RMB 350 per tonne to stand at RMB 12,500 per tonne, as of April 20. The average prices are expected to range between RMB 12,480 per tonne and RMB 12,520 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne.

A00 aluminium ingot price sharply rises by RMB350/t

Tianjin has seen the highest growth of RMB 375 per tonne in A00 aluminium ingot price, followed by Shenyang, Gongyi, and Hangzhou, where the ingot prices have increased by RMB 370 per tonne, RMB 365 per tonne, and RMB 360 per tonne to stand respectively at RMB 12,555 per tonne and RMB 12,540 per tonne. In other Chinese provinces, the A00 aluminium ingot price growth ranged between RMB 340 per tonne and RMB 270 per tonne.

Backed on the sharp rise of A00 aluminium ingot price, the price of aluminium alloy (A356) has also increased by RMB 350 per tonne to RMB 13,200 per tonne. The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have grown by RMB 100 per tonne to RMB 13,900 per tonne and RMB 14,800 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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