China’s A00 aluminium ingot price escalates over the weekend to reach RMB18600/t, recording 1.2% W-o-W rise

According to the Shanghai Metals Market, China's A00 aluminium ingot price has initiated the week on Monday, August 21, with an increase of RMB 80 per tonne to reach RMB 18,600 per tonne. The average prices are estimated to range between RMB 18,580 per tonne and RMB 18,620 per tonne, with a spot contract to be traded at a premium price of RMB 110-150 per tonne.

On a week-on-week calculation, China’s A00 aluminium ingot price is standing 1.2 per cent higher than RMB 18,380 per tonne, learned SMM.

In Wuxi, A00 aluminium ingot price has hiked by RMB 90 per tonne to stand at RMB 18,600 per tonne, followed by the rise of RMB 80 per tonne in Gongyi and Foshan to settle at RMB 18,540 per tonne. In Hangzhou and Linyi, A00 aluminium ingot price has grown by RMB 80 per tonne closing at RMB 18,600 per tonne and RMB 18,650 per tonne. In Chongqing, Shenyang, and Tianjin, A00 aluminium ingot price has also climbed by RMB 18,580 per tonne, RMB 18,540 per tonne, and RMB 18,590 per tonne, respectively.

The domestic low-carbon and high-purity (99.99%) aluminium prices have gained RMB 109 per tonne and RMB 100 per tonne, respectively, to stand at RMB 19,298 per tonne and RMB 26,100 per tonne as of August 21.

In line with the A00 aluminium ingot price rise, aluminium alloy (A356) price has escalated by RMB 100 per tonne to stand at RMB 19,200 per tonne as of August 21. The average prices are estimated to range between RMB 19,000 per tonne and RMB 19,400 per tonne.

However, on the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained muted over the weekend at RMB 19,000 per tonne and RMB 20,000 per tonne, respectively.

Among primary aluminium input costs, the average alumina spot price has recorded no change over the weekend and continued to stand at RMB 2,912 per tonne. Meanwhile, aluminium powder price has inched up by RMB 0.10 per kg to stand at RMB 20.50 per kg, with average prices likely to range between RMB 20.4 per kg and RMB 20.6 per kg.