China’s A00 aluminium ingot price builds up by RMB120/t after two back-to-back falls; Imported bauxite price gains US$1.5/t

A00 aluminium ingot price in China has opened the week with a hike of RMB 120 per tonne, following two consecutive downfalls from RMB 19,370 per tonne to RMB 19,050 per tonne, found the Shanghai Metals Market. Hence, on Monday, July 4, the price has come in at RMB 19,170 per tonne, with average prices to range between RMB 19,150 per tonne and RMB 19,190 per tonne and spot contract to be traded at a discount price of RMB 60-20 per tonne.

Gongyi has seen the highest growth in A00 aluminium ingot price by RMB 170 per tonne to RMB 19,120 per tonne, following the increase of RMB 140 per tonne in Foshan to RMB 19,160 per tonne. In Wuxi and Hangzhou, the primary aluminium ingot price has escalated by RMB 120 per tonne to come in at RMB 19,160 per tonne and RMB 19,210 per tonne, respectively, while the price in Chongqing has gained RMB 130 per tonne to RMB 19,220 per tonne. In Shenyang and Linyi, A00 aluminium ingot price has built up by RMB 90 per tonne to RMB 19,140 per tonne and RMB 19,220 per tonne and that in Tianjin has grown by RMB 50 per tonne to RMB 19,150 per tonne.

Aluminium alloy (A356) price has climbed up by RMB 100 per tonne to stand at RMB 20,200 per tonne, learned SMM. The average prices are estimated to range between RMB 20,100 per tonne and RMB 20,300 per tonne.

But on the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price have dwindled by RMB 100 per tonne to stand at RMB 19,100 per tonne and RMB 20,100 per tonne, respectively.

Among primary aluminium input costs, imported bauxite price from Guinea has inched up by US$1.5 per tonne to rest at US$65 per tonne on July 4, with average prices to range between US$64-66 per tonne.

Australian alumina FOB price has decreased by US$6 per tonne to come in at US$361 per tonne, according to SMM.