China’s A00 aluminium ingot price sees a surge of RMB300/t as sanctions on Russia fuel supply concerns

As the fear of metal supply disruptions has heightened across the world due to sanctions on Russia, A00 aluminium ingot price in China has increased by RMB 300 per tonne to stand at RMB 22,850 per tonne on Wednesday, March 2, found the Shanghai Metals Market. China’s domestic aluminium market has seen the surge today after two consecutive days of fall from RMB 22,820 per tonne to RMB 22,550 per tonne. The average prices are expected to range between RMB 22,830 per tonne and RMB 22,870 per tonne, with spot contract to be traded at a premium price of RMB 90-50 per tonne.

A00 aluminium ingot price in Wuxi and Chongqing, has also built up by RMB 300 per tonne to come in at RMB 22,840 per tonne and RMB 22,750 per tonne, respectively, followed by the surge of RMB 295 per tonne in Hangzhou to RMB 22,845 per tonne. In Foshan and Linyi, primary aluminium ingot price has climbed by RMB 290 per tonne to RMB 22,840 per tonne and RMB 22,850 per tonne, while the price in Shenyang and Tianjin has grown by RMB 240 per tonne to settle at RMB 22,790 per tonne.

Similarly, aluminium alloys prices have witnessed growth in China on Wednesday, March 2. Aluminium alloy (A356) price has soared by RMB 400 per tonne to exceed RMB 24,000 per tonne. According to SMM, the price has come in at RMB 24,200 per tonne, with average prices likely to range between RMB 24,100 per tonne and RMB 24,300 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have grown by RMB 150 per tonne to stand at RMB 22,500 per tonne and RMB 23,500 per tonne, respectively.

However, among primary aluminium input costs, the average alumina spot price in China has continued to plunge by RMB 45 per tonne to stand at RMB 3,082 per tonne as of March 2, 2022. In Henan, the price has plummeted by RMB 50 per tonne to RMB 3,130 per tonne, followed by the fall of RMB 45 per tonne in Shandong and Shanxi to RMB 3,045 per tonne and RMB 3,050 per tonne, respectively. In Guizhou and Guangxi, alumina spot price has decreased by RMB 35 per tonne to come in at RMB 3,050 per tonne and RMB 3,065 per tonne.