China’s A00 aluminium ingot price escalates by RMB350/t to US$20,540/t; Imported alumina price shrinks by US$5/t

A00 aluminium ingot price in China has gained RMB 350 per tonne, following a sharp decline of RMB 570 per tonne on the previous day. According to the Shanghai Metals Market data, the price has come in at RMB 20,540 per tonne as of June 2, with average prices estimated to range between RMB 20,520 per tonne and RMB 20,560 per tonne. The spot contract is likely to be traded at a discount price of RMB 50-10 per tonne.

Gongyi has seen the highest hike of RMB 450 per tonne to stand at RMB 20,720 per tonne, followed by the increase of RMB 350 per tonne in Linyi to RMB 20,690 per tonne. In Foshan and Wuxi, the primary aluminium ingot price has built up by RMB 340 per tonne to settle at RMB 20,500 per tonne and RMB 20,510 per tonne, while the price in Shenyang and Tianjin has expanded by RMB 330 per tonne to close at RMB 20,520 per tonne and RMB 20,570 per tonne, respectively.

Among primary aluminium input costs, the Australian alumina FOB price has shrunk by US$5 per tonne to stand at US$355 per tonne, following an increase of US$4 per tonne to US$360 per tonne on June 2. Imported bauxite price from Malaysia has grown by US$2 per tonne to settle at US$33 per tonne, with average prices to range between US$32-34 per tonne.

Backed on the hike in A00 aluminium ingot price, aluminium alloy (A356) has also built up by RMB 350 per tonne to come in at RMB 21,650 per tonne on Thursday, June 2. The average prices are estimated to range between RMB 21,500 per tonne and RMB 21,800 per tonne.