China’s A00 aluminium ingot price soars up RMB30/t mid-week; Alumina spot price plunges by RMB2/t

China’s A00 aluminium ingot price has increased by RMB 30 per tonne levitation in China, officially closing at RMB 18,390 per tonne, as the Shanghai Metals Market recorded on May 10, Wednesday. The average prices are expected to range between RMB 18,370 per tonne and RMB 18,410 per tonne, with spot contracts trading at premium prices of RMB 60 per tonne and RMB 20 per tonne.

It seems the SMM aluminium ingot price has been on a downward curve after the Worker Day holidays, with the price taking an upward turn on May 4, reaching RMB 18,510 per tonne to again lose its vitality the next day. Since then, the prices have stayed below the maximum range of RMB 18,470 per tonne, which can be attributed to downfalling consumptions. 

The eight provinces in China, excluding Chongqing, have witnessed escalating prices today. The aluminium price in Linyi found a sudden boost of RMB 40 per tonne, settling at RMB 18,450 per tonne. In Wuxi and Hangzhou, the aluminium prices have soared by RMB 20 per tonne, resting at RMB 18,380 per tonne and RMB 18,420 per tonne. The aluminium prices in Gongyi, Foshan and Shenyang have crept up by RMB 10 per tonne, officially halting at RMB 18,290 per tonne, RMB 18,420 per tonne and RMB 18,420 per tonne, respectively.

Only in Chongqing, the aluminium price plummets by RMB 130 per tonne, resting at RMB 18,440 per tonne. Lastly, in Tianjin, the aluminium price has shown no change at all, staying stoic at RMB 18,410 per tonne.

The domestic price of low carbon aluminium has seen RMB 10 per tonne spike, officially closing at RMB 19,002 per tonne. 

The average alumina spot price in China has slumped by RMB 2 per tonne, officially settling down at RMB 2,891 per tonne, while the alumina price in Shanxi has lost RMB 10 per tonne, halting at RMB 2,890 per tonne.

The aluminium powder price in China has refrained from any notable change today.