China’s A00 aluminium ingot price marks a W-o-W decline of RMB70/t; Bauxite price in Guizhou gains RMB10/t

According to the Shanghai Metals Market, A00 aluminium ingot price has dropped slightly by RMB 20 per tonne after a rise of RMB 120 per tonne on the previous day. Therefore, the ingot price has closed the week at RMB 21,170 per tonne on June 7, registering a week-on-week fall of RMB 70 per tonne from RMB 21,240 per tonne.

The average prices are estimated to range between RMB 21,150 per tonne and RMB 21,190 per tonne, with spot contract to be traded at a discount price of RMB 90-50 per tonne.

In Gongyi, A00 aluminium ingot price has slipped by RMB 40 per tonne to settle at RMB 21,080 per tonne, followed by the decline of RMB 30 per tonne in Foshan, Hangzhou, Shenyang, and Linyi to stand at RMB 21,050 per tonne, RMB 21,170 per tonne, RMB 21,090 per tonne, and RMB 21,200 per tonne, respectively. In Chongqing, the ingot price has dipped by RMB 30 per tonne to RMB 21,170 per tonne, while the price in Wuxi and Tianjin has dropped by RMB 20 per tonne to RMB 21,170 per tonne and RMB 21,190 per tonne.

On the same day, the domestic low-carbon aluminium price has experienced a decline of RMB 12 per tonne to close at RMB 22,048 per tonne, showed SMM.

Input costs

Among primary aluminium input costs, bauxite (6.5≤Al/Si＜7.5) price in Guizhou has gained by RMB 10 per tonne to stand at RMB 495 per tonne as of June 7, with average prices to hover around RMB 460-530 per tonne. The price has increased after remaining restrained at RMB 485 per tonne since June 3. Prior to that, the bauxite price grew by RMB 10 per tonne on May 31, following a restraint at RMB 475 per tonne since September 1.

The Australian alumina FOB price has surged by US$7 per tonne, marking the second consecutive day of rise. As of June 7, the price stands at US$490 per tonne, compared to US$483 per tonne on the previous day.

With the latest rise, the imported alumina price stands 4.2 per cent higher than US$475 per tonne a week ago.

Aluminium alloy prices

In response to aluminium ingot price fall, aluminium alloy (A360) price has decreased by RMB 50 per tonne to stand at RMB 21,950 per tonne as of June 7, with estimated average prices at RMB 21,850 per tonne and RMB 22,050 per tonne.

However, aluminium alloys (ADC12) price and aluminium alloy (A356) price have remained restrained at RMB 20,500 per tonne and RMB 21,700 per tonne, respectively.