China’s A00 aluminium ingot price surges by RMB270/t after back-to-back fall and restraint; Imported bauxite price drops by $1/t
A00 aluminium ingot price has begun the week on Monday, September 28, by recording a sharp rise of RMB 270 per tonne to RMB 14,550 per tonne, found the Shanghai Metals Market. The primary aluminium ingot price has increased today after three consecutive days of hike from RMB 14,790 per tonne to RMB 14,270 per tonne during September 21-24 and a restraint on September 25. The average primary aluminium ingot prices are expected to range between RMB 14,530 per tonne and RMB 14,570 per tonne, with spot contract to be traded at a premium price of RMB 320-360 per tonne.
Hangzhou has seen the highest growth today of RMB 300 per tonne to RMB 14,630 per tonne, following by the increase of RMB 280 per tonne in Linyi to RMB 14,660 per tonne and RMB 270 per tonne in Gongyi and Wuxi to RMB 14,610 per tonne and RMB 14,570 per tonne, respectively. In Tianjin, A00 aluminium ingot price has grown by RMB 255 per tonne to RMB 14,575 per tonne, while that in Shenyang by RMB 250 per tonne to RMB 14,570 per tonne. In Foshan and Chongqing, the primary aluminium ingot price has surged by RMB 220 per tonne to come in at RMB 14,590 per tonne and RMB 14,530 per tonne, respectively.
Aluminium alloy (A356) price has jumped by RMB 250 per tonne to RMB 15,150 per tonne, as of September 28. The average prices are expected to range between RMB 15,100 per tonne and RMB 15,200 per tonne.
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The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have also increased, albeit slower than aluminium alloy (A356), by RMB 50 per tonne to stand at RMB 14,850 per tonne and RMB 15,750 per tonne, respectively.
As far as the input costs are concerned, imported bauxite price and Australian alumina FOB price has dropped by US$ 1 per tonne and US$ 3 per tonne, respectively, to hover at US$ 40 per tonne and US$ 270 per tonne.
The price of aluminium powder, on the other hand, has grown merely by RMB 0.30 per kg to stand at RMB 18.15 per kg.
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