China’s A00 aluminium ingot price stands at a M-o-M high, soaring by RMB540/t: SMM

According to the Shanghai Metals Market, A00 aluminium ingot price in China has initiated the week of August 26 with an increase of RMB 40 per tonne to stand at RMB 19,740 per tonne. The price has marked a week-on-week hike of RMB 280 per tonne from RMB 19,460 per tonne and a month-on-month surge of RMB 540 per tonne from RMB 19,200 per tonne.

The average prices today are estimated to range between RMB 19,720 per tonne and RMB 19,760 per tonne, with a spot contract to be traded at a discount price of RMB 110 per tonne and RMB 70 per tonne.

China’s domestic price of low-carbon aluminium has also seen a hike of RMB 54 per tonne on August 26 to clock at RMB 20,582 per tonne, standing at a week-on-week high of RMB 253 per tonne compared to RMB 20,329 per tonne and a month-on-month increase of RMB 561 per tonne from RMB 20,021 per tonne.

Region-wise aluminium ingot price

Foshan, Hangzhou, and Chongqing have witnessed the highest rise in A00 aluminium ingot prices among all other Chinese provinces. The prices there have increased by RMB 50 per tonne to stand at RMB 19,650 per tonne, RMB 19,740 per tonne, and RMB 19,710 per tonne, respectively. In Wuxi and Tianjin, A00 aluminium ingot price has grown by RMB 40 per tonne to peg at RMB 19,730 per tonne and RMB 19,660 per tonne, while the price in Shenyang and Linyi has gained RMB 30 per tonne to RMB 19,640 per tonne and RMB 19,660 per tonne. A00 aluminium ingot price in Gongyi has escalated by only RMB 20 per tonne to close at RMB 19,640 per tonne as of August 26.

Aluminium alloy prices

Aluminium alloy (A380) price has increased by RMB 100 per tonne to arrive at RMB 21,300 per tonne on August 26, with average prices to range between RMB 21,150 per tonne and RMB 21,450 per tonne. Over a week, aluminium alloy (A380) price has increased by RMB 200 per tonne from RMB 21,100 per tonne and also stands at a month-on-month high compared to RMB 20,550 per tonne.

The price of aluminium alloys (ADC12) has also escalated by RMB 100 per tonne on August 26 to RMB 20,250 per tonne. The average prices will likely range between RMB 20,150 per tonne and RMB 20,350 per tonne. On a month-on-month calculation, the price has soared by RMB 700 per tonne from RMB 19,550 per tonne.

On the other hand, aluminium alloy (A356) and aluminium alloy (A360) prices have risen by RMB 50 per tonne to clock at RMB 20,200 per tonne and RMB 20,450 per tonne, respectively.

Aluminium raw material prices

Primary aluminium input costs have remained restrained on August 26, including the domestic bauxite and alumina prices at RMB 640 per tonne and RMB 3,907 per tonne.

Market analysis

A00 aluminium ingot price in China has rebounded month-on-month due to raw material supply constraints amid increased demand for growing primary aluminium production.