China’s alumina price marks 7th consecutive rise nearing RMB 3000/t; A00 aluminium ingot price shrinks by RMB160/t

According to the Shanghai Metals Market, the average alumina spot price has started the week on October 23 with a growth of RMB 5 per tonne to settle at RMB 2,998 per tonne. This marks the 7^th consecutive rise of China’s alumina spot price.

In Guizhou, the alumina spot price has grown significantly by RMB 20 per tonne to stand at RMB 2,990 per tonne, while the price in Shandong, Shanxi, and Guangxi has increased by RMB 10 per tonne to RMB 2,980 per tonne, RMB 3,010 per tonne, and RMB 3,015 per tonne, respectively.

However, the Australian alumina FOB price has remained restrained at US$337 per tonne.

The imported bauxite price has dipped by US$0.08 per tonne to stand at US$69.83 per tonne. However, the domestic price in China has recorded no change from RMB 615 per tonne.

A00 aluminium ingot price has shrunk by RMB 160 per tonne to stand at RMB 18,920 per tonne. The average prices are likely to range between RMB 18,900 per tonne and RMB 18,940 per tonne, with estimated spot contract at RMB 60-100 per tonne.

In Gongyi, A00 aluminium ingot price has plunged by RMB 170 per tonne to peg at RMB 18,820 per tonne, followed by the decrease of RMB 160 per tonne in Hangzhou and Chongqing to stand at RMB 18,920 per tonne. The alumina price in Shenyang has also recorded a fall of RMB 160 per tonne to settle at RMB 18,980 per tonne, while the price in Wuxi and Foshan has dwindled by RMB 150 per tonne and RMB 140 per tonne to hover around RMB 18,900 per tonne and RMB 18,920 per tonne, respectively.

In line with A00 aluminium ingot price fall, aluminium alloy (A356) price has diminished by RMB 150 per tonne to come in at RMB 19,600 per tonne. The average prices are estimated at RMB 19,400 per tonne and RMB 19,800 per tonne.