China’s A00 aluminium ingot price plunges by RMB40/t after CNY holidays; Alumina price in Guizhou gains RMB10/t
A00 aluminium ingot price has shrunk by RMB 40 per tonne, halting at RMB 18,730 per tonne, as the Shanghai Metals Market recorded on January 31. The aluminium prices are on a downward trajectory just after the Chinese New Year holidays are over. The average prices are expected to range between RMB 18,710 per tonne and RMB 18,750 per tonne, with spot contracts trading at discount prices of RMB 120 per tonne and RMB 80 per tonne.
The eight provinces in China all have seen deescalating prices today, with aluminium prices plunging the highest in Shenyang by RMB 60 per tonne, closing at RMB 18,710 per tonne. Followed by that, the aluminium prices in Foshan and Chongqing also have lost RMB 50 per tonne, halting at RMB 18,770 per tonne and RMB 18,750 per tonne. In Linyi, the aluminium price dropped by RMB 40 per tonne and Wuxi by RMB 30 per tonne, both closing at RMB 18,730 per tonne. Also, in Gongyi, the aluminium price has experienced a fall of RMB 30 per tonne to rest at RMB 18,570 per tonne. Lastly, in Hangzhou, the aluminium price has slumped by RMB 25 per tonne, officially closing at RMB 18,740 per tonne. Only in Tianjin did the price of aluminium escalate by RMB 40 per tonne, clocking at RMB 18,780 per tonne.
The low carbon aluminium price follows a downward trend, with it banking at RMB 19,352 per tonne, after RMB 50 per tonne loss.
The prices of high-purity aluminium (99.99%) and high-purity aluminium (99.996%) have refrained from showing any change.
The average alumina spot price in China has gained RMB 2 per tonne, settling down at RMB 2,947 per tonne, whereas the alumina price in Guizhou has shot up by RMB 10 per tonne, closing at RMB 2,860 per tonne.
The price of aluminium alloy (A356) has dived down by RMB 50 per tonne, stopping at RMB 19,900 per tonne, while prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained stoic at their previous positions.
The price of aluminium powder in China has not displayed any signs of alterations today.
LME aluminium price dips by US$20/t to US$2,577/t; SHFE price falls by US$39/t
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