China’s A00 aluminium ingot price surges by RMB470/t; Aluminium alloy (A356) price grows by RMB450/t

According to the Shanghai Metals Market, A00 aluminium ingot price has opened the week on Monday with a surge of RMB 470 per tonne to settle at RMB 22,990 per tonne. The average prices are expected to hover between RMB 22,970 per tonne and RMB 23,010 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne.

The price in Foshan and Chongqing has hiked by RMB 470 per tonne to close at RMB 23,020 per tonne and RMB 22,910 per tonne. For the same day in Wuxi and Hangzhou the price has grown by RMB 465 per tonne to peg at RMB 22,980 per tonne and RMB 22,990 per tonne. As per SMM, the A00 aluminium ingot price in Shenyang has augmented by RMB 410 per tonne to register at RMB 22,900 per tonne, followed by the increase of RMB 310 per tonne in Tianjin to score at RMB 22,930 per tonne. In Linyi, the price has escalated by RMB 580 per tonne to come in at RMB 23,000 per tonne.

The aluminium alloy (ADC12) and (A380) price has expanded by RMB 100 per tonne to record at RMB 22,600 per tonne and RMB 23,600 per tonne. The average prices for (ADC12) and (A380) are expected to orbit between RMB 22,500 per tonne and RMB 22,700 per tonne and RMB 23,500 per tonne and RMB 23,700 per tonne. For the same day, (A356) price has also heightened by RMB 450 per tonne to score at RMB 24,400 per tonne. The average price for the same is expected to range between RMB 24,300 per tonne and RMB 24,500 per tonne.

Australian aluminium FOB price has also climbed up by US$10 per tonne to total at US$535 per tonne. For the same day, the aluminium powder price has inched up by RMB 0.5 per kg to register at RMB 24.8 per kg, with average prices likely to hover between RMB 24.7-24.9 per kg.