China’s A00 aluminium ingot price hikes by RMB480/t; Aluminium alloy (A356) price surges by RMB500/t

On Wednesday, May 11, China’s A00 aluminium ingot price has surged by RMB 480 per tonne, after witnessing downfall since May 5, says SMM data. The price for today has been recorded at RMB 20,120 per tonne, with average price expected to range between RMB 20,100 per tonne and RMB 20,140 per tonne and spot contract to be traded at a discount price of RMB -50 to RMB -10 per tonne.

For the same day, Foshan has witnessed the highest surge of RMB 510 per tonne to RMB 20,240 per tonne, followed by Wuxi, where the price has augmented by RMB 490 per tonne to RMB 20,130 per tonne. The price in Hangzhou and Chongqing has soared up by RMB 470 per tonne and RMB 480 per tonne to peg at RMB 20,180 per tonne and RMB 20,220 per tonne. In Shenyang and Tianjin the price has grown by RMB 410 per tonne and RMB 300 per tonne to score at RMB 20,120 per tonne and RMB 20,150 per tonne. As of today in Linyi and Gongyi the price has augmented by RMB 430 per tonne and RMB 450 per tonne to come in at RMB 20,270 per tonne and RMB 20,140 per tonne.

Aluminium alloy prices have also grown significantly. Aluminium alloy (A356) price has shot up by RMB 500 per tonne to come in at RMB 21,300 per tonne, with average prices expected to range between RMB 21,200 per tonne and RMB 21,400 per tonne. Aluminium alloy (ADC12) price and (A380) price has increased by RMB 100 per tonne to settle at RMB 21,200 per tonne and RMB 22,200 per tonne. The average price for (ADC12) is expected to orbit between RMB 21,100 per tonne and RMB 21,300 per tonne. The average price (A380) is expected to range between RMB 22,100 per tonne and RMB 22,300 per tonne.

The Australian alumina FOB price has gone down by US$3 per tonne to settle at US$367 per tonne. Aluminium powder price has on the other hand inched up by RMB 0.5 per kg to RMB 21.9 per kg, with average price expected to hover between RMB 21.8 per kg and RMB 22 per kg.