China’s alumina price hikes by RMB8/t over the weekend marking back-to-back rise; A00 aluminium ingot price declines by RMB50/t

According to the Shanghai Metals Market survey, China's average alumina spot price has hiked by RMB 8 per tonne over the weekend to stand at RMB 3,012 per tonne. That marked a rise for the second consecutive day, driven by rising purchase for future use when smelters resume production.

In Henan and Guizhou, the average alumina price has surged by RMB 10 per tonne to stand at RMB 3,025 per tonne. The alumina price in Shanxi also reaches RMB 3,025 per tonne but by gaining RMB 5 per tonne. In Shandong, alumina price has grown by RMB 5 per tonne to settle at RMB 2,960 per tonne.

The Australian alumina FOB price has also jumped by RMB 12 per tonne to stand at US$347 per tonne, found SMM.

A00 aluminium ingot price, on the other hand, has decreased by RMB 50 per tonne over the weekend to clock at RMB 19,070 per tonne. The price has declined following a hike of RMB 160 per tonne to RMB 19,120 per tonne.

Today's average prices range between RMB 19,050 per tonne and RMB 19,090 per tonne, with a spot contract to be traded at a discount price of RMB 70-30 per tonne.

However, A00 aluminium ingot price decline has not touched upon all the Chinese provinces like Tianjin, Linyi, Chongqing, and Shenyang. In Tianjin, A00 aluminium ingot price has surged by RMB 190 per tonne to stand at RMB 19,170 per tonne, while the price in Linyi and Chonqing has hiked by RMB 160 per tonne to reach the same price.

Aluminium alloy (A380) and aluminium alloys (ADC12) prices have gained RMB 100 per tonne to settle at RMB 21,000 per tonne and RMB 20,000 per tonne, respectively, with average prices to range between RMB 20,900-21,100 per tonne and RMB 19,900-20,100 per tonne.

According to SMM, aluminium alloy (A356) price has declined by RMB 50 per tonne to start the week at RMB 19,170 per tonne. The average prices are expected to range between RMB 19,600 per tonne and RMB 19,900 per tonne.