China’s A00 aluminium ingot price plunges by RMB130/t; Low carbon aluminium price descends by RMB113/t
Following a hike for three consecutive days from July 27 to July 29, China’s A00 aluminium ingot price dropped on Monday and Tuesday. As of August 2, the primary aluminium ingot price declined further by RMB 130 per tonne to rest at RMB 18,170 per tonne. The average price for the same is expected to orbit between RMB 18,150 per tonne and RMB 18,190 per tonne, with spot contract likely to be traded at a discount price of RMB 40 per tonne and a premium price of RMB 0 per tonne.
The primary aluminium ingot price has experienced a downfall in all the Chinese provinces, with the highest being at Linyi. The price in Linyi has plummeted by RMB 210 per tonne to close at RMB 18,170 per tonne, followed by the price in Shenyang, which has plunged by RMB 170 per tonne to halt at RMB 18,160 per tonne. On the same day in Tianjin, the price dropped by RMB 150 per tonne to record at RMB 18,150 per tonne. In Gongyi and Hangzhou, the price has dwindled by RMB 140 per tonne to come in at RMB 18,110 per tonne and RMB 18,200 per tonne. As per the SMM data, the price in Chongqing and Wuxi has also contracted by RMB 130 per tonne to stop at RMB 18,120 per tonne and 18,150 per tonne. The A00 aluminium ingot price in Foshan has slumped by RMB 120 per tonne to rest at RMB 18,060 per tonne.
The domestic price of low carbon aluminium has decreased by RMB 113 per tonne, scoring at RMB 18,670 per tonne. The high purity aluminium (99.99%) price and the high purity aluminium (99.996%) price have descended by RMB 100 per tonne to rest at RMB 26,200 per tonne and RMB 27,200 per tonne.
As per the SMM data, the aluminium alloy (A356) price has slipped by RMB 150 per tonne to record at RMB 19,250 per tonne. The average price for the same may range from RMB 19,100 per tonne to RMB 19,400 per tonne. However, on the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price has remained restrained at RMB 18,350 per tonne and RMB 19,350 per tonne.
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The average alumina spot price has inched down by RMB 1 per tonne to stand at RMB 2,970 per tonne. Prices in Guizhou and Bayuquan have slipped by RMB 10 per tonne and RMB 25 per tonne to peg at RMB 2,910 per tonne and RMB 3,100 per tonne.
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