According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has increased by RMB 60 per tonne to exceed RMB 19,000 per tonne. On Thursday, August 15, China’s domestic primary aluminium ingot price has clocked at RMB 19,010 per tonne, marking a week-on-week rise of RMB 230 per tonne from RMB 18,780 per tonne. The average prices are expected to range between RMB 18,990 per tonne and RMB 19,030 per tonne, with a spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne.
Region-wise analysis
While the increase of A00 aluminium ingot price has touched upon all the provinces in China, Hangzhou, Tianjin, and Linyi have witnessed a hike of RMB 90 per tonne to RMB 19,040 per tonne, RMB 19,060 per tonne, and RMB 19,040 per tonne, respectively. In Chongqing, A00 aluminium ingot price has grown by RMB 70 per tonne to touch the level of RMB 19,000 per tonne, while the price in Wuxi and Shenyang has risen by RMB 60 per tonne to settle at RMB 19,010 per tonne.
Aluminium alloy prices
In tandem with the increase in A00 aluminium ingot price, aluminium alloy (A356) price and aluminium alloy (A360) price have ascended by RMB 50 per tonne on August 15, 2024. While the price of aluminium alloy (A356) has come in at RMB 19,450 per tonne, with average prices ranging between RMB 19,300-19,600 per tonne, aluminium alloy (A360) price has pegged at RMB 19,700 per tonne, with average prices hovering at RMB 20,650-20,850 per tonne.
However, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained muted at RMB 19,750 per tonne and RMB 20,750 per tonne.
Input costs
Among primary aluminium raw material prices, China’s domestic average bauxite price as well as alumina price have remained restrained at RMB 640 per tonne and RMB 3,904 per tonne, respectively.
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