China’s A00 aluminium ingot price expands by RMB310/t; Average alumina spot price shrinks by RMB2/t
On Wednesday, August 10, China’s A00 aluminium ingot price surged by RMB 310 per tonne to rest at RMB 18,790 per tonne. The average price for the same is expected to range between RMB 18,770 per tonne and RMB 18,810 per tonne, with spot contracts to be traded at a discount price of RMB 140 to RMB 100 per tonne.
As per the SMM data, the A00 aluminium ingot price has hiked in all the major Chinese provinces. In Wuxi and Hangzhou, the price has witnessed the highest expansion of RMB 310 per tonne to settle at RMB 18,750 per tonne and RMB 18,800 per tonne. The price in Foshan has expanded by RMB 300 per tonne to settle at RMB 18,610 per tonne for the same day. In Shenyang, the price has grown by RMB 290 per tonne to stand at RMB 18,690 per tonne. On the same day, the price in Gongyi, Chongqing and Linyi also spiked by RMB 280 per tonne to close at RMB 18,610 per tonne, RMB 18,660 per tonne and RMB 18,740 per tonne. In Tianjin, the price ascended by RMB 230 per tonne to peg at RMB 18,690 per tonne.
In China, the domestic price of low carbon aluminium has hiked by RMB 298 per tonne to settle at RMB 19,222 per tonne.As per the SMM data, high purity aluminium (99.99%) price and high purity aluminium (99.996%) price both soared up by RMB 300 per tonne to record at RMB 26,900 per tonne and RMB 27,900 per tonne.
The average alumina spot price went down by RMB 2 per tonne to rest at RMB 2,964 per tonne. On the same day, the price in Shanxi and Guangxi dipped by RMB 5 per tonne to record at RMB 2,905 per tonne and RMB 2,975 per tonne.
The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have shot up by RMB 150 per tonne to peg at RMB 18,700 per tonne and RMB 19,700 per tonne. The average price for aluminium alloys (ADC12) is expected to range between RMB 18,600 per tonne and RMB 18,800 per tonne. As per the SMM statistics, the average price for aluminium alloy (A380) is likely to hover between RMB 19,600 per tonne and RMB 19,800 per tonne.
The price of aluminium alloy (A356) has augmented by RMB 300 per tonne to rest at RMB 19,900 per tonne. The average price for the same is expected to orbit between RMB 19,800 per tonne and RMB 20,000 per tonne.
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