China’s A00 aluminium ingot price expands W-o-W by RMB120/t; Alumina price gains RMB8/t

On Tuesday, July 18, China’s A00 aluminium ingot price has grown by RMB 20 per tonne to close at RMB 18,370 per tonne. On a W-o-W calculation, a hike of RMB 120 per tonne was witnessed from RMB 18,250 per tonne recorded on July 12. As of today, the average prices are estimated to range between RMB 18,350 per tonne and RMB 18,390 per tonne, with a spot contract to be traded at a premium price of RMB 100 to RMB 140 per tonne.

The A00 aluminium ingot prices have shown upward movement in all the provinces. After restrictions on local electricity consumption were lifted, smelters in the southern Yunnan province resumed operations. To begin with, the A00 aluminium ingot price has ascended the highest in Foshan by RMB 90 per tonne to settle at RMB 18,290 per tonne, followed by a growth of RMB 50 per tonne in Chongqing to halt at RMB 18,330 per tonne.

In Gongyi, the price has gained RMB 30 per tonne to peg at RMB 18,290 per tonne. On the same day, the prices in Hangzhou and Linyi moved up by RMB 20 per tonne to halt at RMB 18,370 per tonne and RMB 18,320 per tonne. In Wuxi, the price has gone up by RMB 10 per tonne to close at RMB 18,350 per tonne. Only Shenyang and Tianjin have the prices unchanged at RMB 18,310 per tonne and RMB 18,380 per tonne.

The domestic price of low-carbon aluminium has gained RMB 90 per tonne to reside at RMB 18,914 per tonne. The average alumina spot price has increased by RMB 8 per tonne to reach RMB 2,841 per tonne. As per the SMM data, the prices in Shanxi and Guangxi have grown by RMB 15 per tonne and RMB 10 per tonne to stand at RMB 2,840 per tonne. In Shandong, the alumina price has moved up the graph by RMB 5 per tonne to stop at RMB 2,800 per tonne.