China’s A00 aluminium ingot price opens the week with a hike of RMB420/t; Alumina price slips by RMB3/t

Following a decline in price on Friday, the A00 aluminium ingot price has recorded a sharp increase of RMB 420 per tonne to score at RMB 23,860 per tonne, as of Monday, March 7. According to the Shanghai Metal Market, the average prices are expected to hover between RMB 23,840 per tonne and RMB 23,880 per tonne, with spot contract to be traded at a premium price of RMB 110-70 per tonne.

For the same day in Gongyi and Wuxi, the price has hiked by RMB 410 per tonne to register at RMB 23,670 per tonne and RMB 23,850 per tonne. In other Chinese provinces like Shenyang and Tianjin, the price has heightened by RMB 420 per tonne to come in at RMB 23,790 per tonne, found the Shanghai Metals Market. In Foshan and Hangzhou as well, there was a gradual uptrend of RMB 420 per tonne and RMB 415 per tonne to RMB 23,860 per tonne, respectively. In Chongqing and Linyi, the price has moved up by RMB 400 per tonne and RMB 440 per tonne to record at RMB 23,760 per tonne and RMB 23,800 per tonne.

Amongst the primary aluminium sector, the aluminium alloy market has also recorded significant growth, found the Shanghai Metals Market. The aluminium alloy (ADC12) price has soared up by RMB 200 per tonne surpassing RMB 23,000 per tonne, for the same day. The price for the same has been closed at RMB 23,100 per tonne, with average prices likely to orbit between RMB 23,000 per tonne and RMB 23,200 per tonne.

For the same day, aluminium alloy (A356) price and aluminium alloy (A380) price has also shot up by RMB 400 per tonne and RMB 200 per tonne to total at RMB 25,200 per tonne and RMB 24,100 per tonne. The average price for aluminium alloy (A356) is likely to range between RMB 25,100 per tonne and RMB 25,300 per tonne. For the same day, the aluminium alloy (A380) price is likely to hover between RMB 24,000 per tonne and RMB 24,200 per tonne.

The average alumina spot price in China has been on the declining phase since February 22. As of Monday, March 7, the average alumina spot price has inched down by RMB 3 per tonne to stand at RMB 2,978 per tonne. On the other hand, if sanctions on Rusal increase due to the Russia-Ukraine conflict, the price disparity between overseas and Chinese alumina markets may widen.  

For the same day in Shanxi and Guizhou, the price has dipped by RMB 5 per tonne to score at RMB 2,960 per tonne and RMB 2,975 per tonne. In Guangxi, the price has gone down by RMB 10 per tonne to register at RMB 2,955 per tonne.

On the other hand, in provinces like Shandong, Henan, Lianyungang and Bayuquan, the price has stood restrained. The price for the same has been recorded at RMB 2,975 per tonne in Shandong, RMB 3,000 per tonne in Henan, RMB 3,125 per tonne in Lianyungang and RMB 3,250 per tonne in Bayuquan.