China’s alumina price marks pivotal growth to register RMB3292/t today; SMM aluminium ingot price loses RMB90/t after New Year

According to SMM, the average alumina spot price in China has soared by RMB 35 per tonne to close at RMB 3,292 per tonne, while the alumina price in Shandong, Henan, Shanxi and Guizhou have all escalated by RMB 30 per tonne to officially settle at RMB 3,155 per tonne, RMB 3,330 per tonne, RMB 3,345 per tonne and RMB 3,280 per tonne.

The alumina spot price in Guangxi has levitated by RMB 50 per tonne to park at RMB 3,300 per tonne. The Australian Alumina FOB price has heightened by US$9 per tonne to close at US$356 per tonne.

China’s average alumina spot price has been on an upward strike since the Guinea fuel depot blast. Uncertainty in the production capacity has directly resulted in the alumina price hike, yet the aluminium ingot price is on the downward side owing to the increased warehouse accumulation.

The bauxite price in Guizhou has scored RMB 10 per tonne to close at RMB 380 per tonne, and the Australia Bauxite CIF price has gained US$2 per tonne to stop at US$56 per tonne.

The SMM aluminium ingot price on January 5 has plunged by RMB 100 per tonne to officially close at RMB 19,300 per tonne, with the average prices hovering between RMB 19,280 per tonne and RMB 19,320 per tonne.

The Shanghai Metals Market has shown a significant drop of RMB 90 per tonne or 0.46 per cent from RMB 19,570 per tonne registered on December 28 and 29, last year, to mark a price of RMB 19,480 per tonne on January 2, just after the New Year Holidays.

Eight major provinces in China have seen downward shifting prices, with the SMM aluminium ingot price lowering the highest in Hangzhou by RMB 100 per tonne to close at RMB 19,300 per tonne. In Wuxi, the aluminium price has lost RMB 90 per tonne to halt at RMB 19,310 per tonne, while the aluminium price in Foshan has dipped by RMB 80 per tonne to officiate at RMB 19,320 per tonne. The aluminium prices in Chongqing and Shenyang have both slumped by RMB 70 per tonne to anchor at RMB 19,300 per tonne and RMB 19,270 per tonne, respectively. In Linyi, the aluminium price has shed RMB 60 per tonne to rest at RMB 19,340 per tonne. Lastly, in Gongyi and Tianjin, the aluminium prices have declined by RMB 50 per tonne each to settle at RMB 19,200 per tonne and RMB 19,330 per tonne.

The low-carbon aluminium price in China has discarded RMB 109 per tonne to close at RMB 20,090 per tonne.

The prices of high-purity aluminium (99.99%) and the price of high-purity aluminium (99.996%) have negated RMB 100 per tonne to officially close at RMB 27,000 per tonne and RMB 28,000 per tonne.

The price of aluminium alloy (A356) and aluminium alloy (A360) have both negated RMB 100 per tonne to rest at RMB 19,950 per tonne and RMB 20,200 per tonne, respectively. The aluminium alloys (ADC12) price has dived by RMB 50 per tonne to rest at RMB 20,250 per tonne.

The aluminium powder price has dipped by RMB 0.10 per kg to remain stoic at RMB 21.90 per kg. The average prices roamed between RMB 21.80 per kg and RMB 22 per kg.