China’s A00 aluminium ingot price slumps by RMB280/t after five consecutive hikes; Alumina price extends growth above RMB3000/t

A00 aluminium ingot price in China has plunged by RMB 280 per tonne on Wednesday, April 20, after the five consecutive days of hike. The Shanghai Metals Market data shows the price has come in at RMB 21,750 per tonne, with average prices likely to range between RMB 21,730 per tonne and RMB 21,770 per tonne. The spot contract is estimated to be traded at a premium price of RMB 70-30 per tonne.

In most of the provinces like Gongyi, Foshan, Wuxi, Hangzhou, and Chongqing, A00 aluminium ingot price has plummeted by RMB 280 per tonne, while the price in Linyi, Tianjin, and Shenyang has slumped by RMB 290 per tonne, RMB 240 per tonne, and RMB 230 per tonne to stand at RMB 21,850 per tonne, RMB 21,770 per tonne, and RMB 21,750 per tonne, respectively.

Among primary aluminium input costs, the average alumina spot price has, however, grown by RMB 7 per tonne, marking the third consecutive day of increase. According to SMM, the latest growth has taken the price above RMB 3,000 per tonne, precisely at RMB 3,006 per tonne as of April 20.

In Henan and Shandong, the alumina spot price has expanded by RMB 15 per tonne and RMB 10 per tonne to rest at RMB 3,055 per tonne and RMB 2,985 per tonne.

But on the other hand, the Australian alumina FOB price has dipped by US$3 per tonne to stand at US$375 per tonne as of April 20.

Aluminium alloy (A356) price has also recorded a downfall of RMB 300 per tonne on April 20 to settle at RMB 22,950 per tonne, with average prices likely to range between RMB 22,800-23,100 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 100 per tonne to stand at RMB 21,800 per tonne and RMB 22,800 per tonne, respectively.