China’s A00 Aluminium ingot price sees uptick today but remains down by RMB 1,230/t compared to three months ago

According to the Shanghai Metals Market (SMM), the price of A00 aluminium ingots has experienced a slight increase after stabilising the previous day. On August 28th, the price has grown by RMB 60 per tonne, reaching RMB 19,800 per tonne. However, the price remains on a downtrend when compared to the same day three months ago, showing a decline of RMB 1,230 per tonne from RMB 21,030 per tonne on May 28th. The average prices are estimated to range between RMB 19,780 per tonne and RMB 19,820 per tonne, with spot contract to be traded at a discount price of RMB 120 per tonne to RMB 80 per tonne with an average of RMB 100 per tonne.

China’s domestic low-carbon aluminium price has surged by RMB 80 per tonne to peg at RMB 20,670 per tonne. The prices for high-purity aluminium (99.99% and 99.996%) have also soared by RMB 100 per tonne after no movement from the previous three consecutive days, now standing at RMB 26,900 per tonne and RMB 27,900 per tonne, respectively. The high-purity aluminium prices range between RMB 26,500 per tonne to RMB 27,300 per tonne for 99.99% purity and RMB 27,500 per tonne to RMB 28,300 per tonne for 99.996% purity.

Region-wise analysis:

All the major Chinese provinces have experienced an upward trend in aluminium ingot prices, with the highest increase in Tianjin province, RMB 140 per tonne, to officiate at RMB 19,800 per tonne. The prices have improved by RMB 60 per tonne in Gongyi, Foshan, Hangzhou, Shenyang and Linyi, settled at RMB 19,700 per tonne in Gongi and Shenyang, RMB 19,710 per tonne in Foshan, RMB 19,800 in Hangzhou and RMB 19,720 in Linyi province. In Wuxi and Chongqing, the price is up by RMB 70 per tonne and RMB 40 per tonne respectively. The average prices in these regions are RMB 19,800 per tonne in Wuxi and RMB 19,750 per tonne in Chongqing.

Primary aluminium input costs:

Among primary aluminium raw materials, China’s imported and domestic bauxite prices have continued to remain restrained at US$ 76.11 per tonne and RMB 640 per tonne, respectively. In contrast, the average alumina price has again risen by RM 5 per tonne from the previous day to clock at RMB 3,921 per tonne. Alumina prices in Shandong and Shanxi have seen a surge in price by RMB 10 per tonne, settling at RMB 3905 per tonne and RMB 3940 per tonne. The price is ranging between RMB 3,880 per tonne to RMB 3,930 per tonne in Shandong and RMB 3,920 per tonne to RMB 3,960 per tonne in Shanxi, bringing the price at an average of RMB 3,905 per tonne and RMB 3,940 per tonne respectively.

Aluminium alloy ingot prices:

Aluminium alloy (A356) price and aluminium alloy (A360) price have ascended by RMB 50 per tonne on August 6 to peg at RMB 20,250 per tonne and RMB 20,500 per tonne, with average prices to range between RMB 20,100 per tonne to RMB 20,400 per tonne and RMB 20,400 per tonne to RMB 20,600 per tonne, respectively.

However, aluminium alloys (ADC12) and aluminium alloy (A380) prices have remained same at RMB 20,250 per tonne and RMB 21,300 per tonne from the previous day.