China’s A00 aluminium ingot price opens the week with a growth of RMB160/t; Low carbon aluminium price ascends to RMB 18,432/t

After recording a downfall since December 30, 2022, the A00 aluminium ingot has hiked by RMB 160 per tonne to halt at RMB 17,860 per tonne, from RMB 17,700 per tonne recorded last week. As per the SMM data, the average price for Monday, January 9, ranged between RMB 17,840 per tonne and RMB 17,880 per tonne, with the spot contract price expected to be traded at a discount price of RMB 80 to RMB 40 per tonne.

The A00 aluminium ingot price has shown growth in all the major provinces. In Linyi, the price has grown the highest by RMB 200 per tonne to RMB 17,960 per tonne, followed by Gongyi and Tianjin, where the prices have ascended by RMB 180 per tonne to peg at RMB 17,730 per tonne and RMB 17,960 per tonne. The price in Hangzhou has shown a growth of RMB 170 per tonne to reside at RMB 17,890 per tonne. In Foshan and Wuxi, the prices have spiked up by RMB 160 per tonne to peg at RMB 17,850 per tonne. As per the SMM data, in Chongqing and Shenyang, the price has gone up by RMB 145 per tonne to stand at RMB 17,930 per tonne.

China's domestic price of low carbon aluminium has increased by RMB 170 per tonne, scoring at RMB 18,432 per tonne. The high purity aluminium (99.99%) price and high purity aluminium (99.996%) price have also grown by RMB 100 per tonne to peg at RMB 25,800 per tonne and RMB 26,800 per tonne.The aluminium alloys (ADC12) price, aluminium alloy (A356) price, and aluminium alloy (A380) price have increased by RMB 150 per tonne to reside at RMB 19,150 per tonne, RMB 19,000 per tonne and RMB 20,150 per tonne.

The average price for aluminium alloys (ADC12) is expected to range between RMB 19,050 per tonne and RMB 19,250 per tonne. For aluminium alloy (A356), the average price may orbit between RMB 18,800 per tonne and RMB 19,200 per tonne. The average price of aluminium alloy (A380) may be between RMB 20,050 per tonne and RMB 20,250 per tonne.

The aluminium powder price has also inched up by RMB 0.2 per tonne to close at RMB 19.6 per tonne, with the average price standing between RMB 19.5 per tonne and RMB 19.7 per tonne.