China’s A00 aluminium ingot price crash-lands on RMB20190/t with RMB570/t cut; High purity aluminium prices loose RMB600/t

A00 aluminium ingot price has plummeted by RMB 570 per tonne to stand at RMB 20,190 per tonne, as recorded by the Shanghai Metals Market on Wednesday, June 1. The average prices are estimated to range between RMB 20,170 per tonne and RMB 20,210 per tonne, with spot contracts trading at a discount price of RMB 50 per tonne and RMB 10 per tonne.

The provinces in China have measured a considerable amount of price slump today, with the primary aluminium ingot price falling the highest in Hangzhou by RMB 590 per tonne to stop at RMB 20,190 per tonne.

Foshan and Wuxi have suffered an RMB 580 per tonne decline. The price of aluminium ingots in Foshan has stopped at RMB 20,160 per tonne, followed by RMB 20,170 per tonne at Wuxi. The price in Linyi and Gongyi has nosedived by RMB 490 per tonne to settle at RMB 20,340 per tonne and RMB 20,270 per tonne.

Tianjin has recorded an RMB 480 per tonne cut to close the aluminium ingot price at RMB 20,240 per tonne.

Chinese province Chong Qing has witnessed a price decrease of RMB 520 per tonne, resulting in RMB 20,230 per tonne. Lastly, the price of aluminium ingot in Shenyang has also crashed by RMB 540 per tonne to settle at RMB 20,190 per tonne today.

In China, the domestic price of low-carbon aluminium has shrunk by RMB 580 per tonne to stand at RMB 20,774 per tonne on Wednesday.

According to data shown by SMM, the high purity aluminium (99.99%) price and the high purity aluminium (99.996%) price both have witnessed a downfall of RMB 600 per tonne to rest at RMB 28,200 per tonne and RMB 29,200 per tonne, respectively. 

The price of imported bauxite from Malaysia CIF has hiked US$2 per tonne to close at US$31 per tonne, with average prices ranging between US$ 30 per tonne and US$ 32 per tonne today.

The alumina price in Shandong has recorded RMB 5 per tonne fall, with the price settling at RMB 3,000 per tonne. The Australian alumina FOB price was heightened by US$4 per tonne to come in at US$360 per tonne.

Today, due to the fall in primary aluminium ingot prices, aluminium alloy (A356) price faced a downward slope with RMB 600 per tonne cut arriving at RMB 21,300 per tonne. The average prices are likely to range between RMB 21,200 per tonne and RMB 21,400 per tonne, says SMM. The prices of aluminium alloy (ADC12) and aluminium alloy (A380) have slumped by RMB 300 per tonne to close mid-week at RMB 20,500 per tonne and RMB 21,500 per tonne, respectively. The average price for aluminium alloy (ADC12) is expected to hover between RMB 20,400 per tonne and RMB 20,600 per tonne. The average price for (A380) is expected to orbit between RMB 21,400 per tonne and RMB 21,600 per tonne.

The aluminium powder price in China has lost RMB 0.60 per kg to settle at RMB 22.1 per kg. The average prices are supposed to range between RMB 22 per kg and 22.2 per kg.