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25 JANUARY 2024 AL CIRCLE

China’s A00 aluminium ingot price sheds off RMB70/t amid gaining input costs

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the Shanghai Metals Market (SMM) survey, A00 aluminium ingot price has recorded a decline of RMB 70 per tonne on Thursday, January 25, to reach RMB 18,910 per tonne. The average prices are estimated to range between RMB 18,890 per tonne and RMB 18,930 per tonne, with spot contract to be traded at a premium price of RMB 20-60 per tonne.

China’s A00 aluminium ingot price sheds off RMB70/t amid gaining input costs

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On a week-on-week basis, the price is, however, up by RMB 20 per tonne from RMB 18,890 per tonne, but down over a month by RMB 160 per tonne from RMB 19,070 per tonne.

In Gongyi, A00 aluminium ingot price has shrunk by RMB 90 per tonne to stand at RMB 18,850 per tonne, followed by the decline of RMB 70 per tonne in Hangzhou and Chongqing to RMB 18,910 per tonne. In Foshan and Wuxi, the price has also decreased by RMB 70 per tonne but amounted to RMB 19,050 per tonne and RMB 18,900 per tonne, respectively.

Low-carbon & high-purity aluminium prices

The domestic low-carbon aluminium price has contracted by RMB 64 per tonne to settle at RMB 19,807 per tonne. The high-purity aluminium (99.99%) price has descended by RMB 100 per tonne to come in at RMB 26,400 per tonne, with average prices likely to range between RMB 25,900 per tonne and RMB 26,900 per tonne.

Movement of input costs

However, on the other hand, the primary aluminium input costs have increased today, including alumina and bauxite. According to SMM data, the domestic average alumina spot price has gained RMB 1 per tonne to stand at RMB 3,346 per tonne. Compared to the same period of the previous month, the price is significantly up by RMB 334 per tonne from RMB 3,012 per tonne.

In Shandong, alumina price has climbed up RMB 5 per tonne to close at RMB 3,250 per tonne as of January 25. The average prices are expected to range between RMB 3,200-3,300 per tonne.

As the bauxite prices are concerned, the imported price of the ore has gained US$0.09 per tonne to reach US$70.09 per tonne, representing a growth of US$0.03 per tonne over a month.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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