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04 MARCH 2022 AL CIRCLE

China’s alumina price declines for the eighth day in a row to RMB2981/t; A00 aluminium ingot price shrinks by RMB100/t on inventory rise

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the Shanghai Metals Market, the average alumina spot price in China has continued to decline by RMB 39 per tonne to stand at RMB 2,981 per tonne on Friday, March 4. This marks the eighth consecutive day of fall since February 22.

China’s alumina spot price declines for the eighth day in a row to RMB2981/t

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In Henan, alumina spot price has slipped by RMB 45 per tonne to come in at RMB 3,000 per tonne on March 4, followed by the decrease of RMB 40 per tonne in Guizhou to RMB 2,980 per tonne. In Guangxi and Shanxi, alumina price has shrunk by RMB 35 per tonne to RMB 2,965 per tonne, while the price in Shandong has dropped by RMB 25 per tonne to close at RMB 2,975 per tonne.

However, the Australian alumina FOB price has increased by US$8 per tonne, marking the third day of rise in a row, to settle at US$460 per tonne.

A00 aluminium ingot price has also recorded a fall on March 4, 2022, after the past two days of rise, attributable to the continuous week-on-week rise in inventories. According to SMM, the price has dwindled by RMB 100 per tonne to close the week at RMB 23,440 per tonne. The average prices are expected to range between RMB 23,420 per tonne and RMB 23,460 per tonne, with spot contract to be traded at a premium price of RMB 120-80 per tonne.

A00 aluminium ingot price shrinks by RMB100/t on inventory rise

But the decline in primary aluminium ingot price has not touched upon all the major Chinese cities today, such as Chongqing, Shenyang, Tianjin, and Linyi. While the primary aluminium price in Chongqing and Linyi has soared by RMB 680 per tonne and RMB 620 per tonne to RMB 23,430 per tonne and RMB 23,470 per tonne, the price in Shenyang and Tianjin has surged by RMB 670 per tonne to stand at RMB 23,460 per tonne.

AlCircle Global Aluminium Industry Outlook 2022

Backed on the fall in primary aluminium price and due to the suppressed downstream purchases, aluminium alloy (A356) price has shrunk by RMB 100 per tonne to settle at RMB 24,800 per tonne. The average prices are estimated to range between RMB 24,700 per tonne and RMB 24,900 per tonne, found SMM.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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