China’s A00 aluminium ingot price loses RMB280/t to close the week lower at RMB20500/t; China’s alumina price on gradual decline to RMB2964/t

AL Circle

On Friday, June 10, the average alumina spot price in China stopped at RMB 2,964 per tonne, declining by RMB 8 per tonne, as the SMM data shows. The alumina price in Henan has dropped by RMB 15 per tonne to halt at RMB 3,035 per tonne. Alumina's price in Guizhou has marked RMB 5 per tonne fall, resulting in RMB 2,950 per tonne. Lastly, the alumina price in Shanxi has stooped down RMB 10 per tonne to close at RMB 2,880 per tonne.

China’s A00 aluminium ingot price loses RMB280/t to close the week lower at RMB20500/t; China’s alumina price on gradual decline to RMB2964/t, Alcircle News

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A00 aluminium price in China has plunged by RMB 280 per tonne on Friday, June 10, to close the week lower at RMB 20,500 per tonne, as the Shanghai Metals Market data read. The average aluminium prices are expected to range between RMB 20,480 per tonne and RMB 20,520 per tonne, while spot contracts trading at a discount price of RMB 90 per tonne and RMB 50 per tonne.

On Friday, the aluminium ingot price declined nationwide in China. In Wuxi, the price has dropped by RMB 280 per tonne to stop at RMB 20,490 per tonne, and in Hangzhou, it has decreased by RMB 250 per tonne coming in at RMB 20,550 per tonne. In both the Chinese provinces, Chongqing and Shenyang, the aluminium ingot price has fallen by RMB 230 per tonne to halt at RMB 20,490 per tonne and RMB 20,500 per tonne, respectively. In the Chinese province of Foshan, the primary aluminium ingot price has plummeted by RMB 250 per tonne, buyable at RMB 20,410 per tonne. Premium aluminium ingot price in Lin Yi has slumped by RMB 230 per tonne resulting in RMB 20,600 per tonne, whereas aluminium ingot price in Tianjin has tumbled down to RMB 20,550 per tonne, losing RMB 150 per tonne. Lastly, in Gongyi, the aluminium ingot price has resulted in RMB 20,550 per tonne, experiencing an RMB 130 per tonne cut.

In China, the domestic price of low-carbon aluminium has also nose-dived RMB 250 per tonne to stand at RMB 21,024 per tonne as of June 10.

The prices of high purity aluminium (99.99%) and high purity aluminium (99.996%) have shrunk heavily by RMB 300 per tonne, stopping at RMB 28,600 per tonne and RMB 29,600 per tonne, respectively.

Due to the degrading prices of aluminium ingots the price of aluminium alloy (A356) has also failed to rise, recording RMB 21,600 per tonne, with RMB 300 per tonne deduction. The average prices are supposed to range between RMB 21,500 per tonne and RMB 21,700 per tonne. The aluminium alloys (ADC12) and (A380) have declined by RMB 150 per tonne, recording RMB 20,350 per tonne and RMB 21,350 per tonne, respectively, on Friday, June 10.

OUTLOOK 2022

Among input costs, the price of caustic soda (32% concentration) in Henan has slumped by RMB 50 per tonne, closing at RMB 4,120 per tonne, with average prices likely to range between RMB 4,040 per tonne and RMB 4,200 per tonne.

The price of aluminium powder has settled at RMB 22.4 per kg, seeing a fall of RMB 0.3 per kg.

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