China’s alumina spot price accumulates RMB11/t to exceed RMB2900/t; A00 aluminium ingot price drops RMB30/t

The average alumina spot price in China has hiked by RMB 11 per tonne to stand at RMB 2,908 per tonne as of Thursday, December 15, found the Shanghai Metals Market data. In Shandong, Guizhou, and Guangxi, alumina price has escalated by RMB 15 per tonne to peg at RMB 2,865 per tonne, RMB 2,825 per tonne, and RMB 2,830 per tonne, respectively, while the price in Shanxi has increased by RMB 10 per tonne to come in at RMB 2,950 per tonne. Only in Henan has the price remained unchanged at RMB 2,960 per tonne.

The Australian alumina FOB price has also registered an increase of US$11 per tonne to stand at US$335 per tonne on December 15, learned SMM.

But despite the hike in alumina spot price, A00 aluminium ingot price has recorded a decline of RMB 30 per tonne to knock 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 a spot contract to be traded at a discount price of RMB 300-260 per tonne.

In Foshan and Gongyi, primary aluminium ingot price has decreased by RMB 40 per tonne and RMB 30 per tonne to stand at RMB 18,790 per tonne and RMB 18,720 per tonne, respectively, while the price in Wuxi and Hangzhou has dropped by RMB 25 per tonne to hover around RMB 2,915 per tonne and RMB 2,925 per tonne. In Shenyang and Tianjin, aluminium ingot price has dipped by RMB 10 per tonne to stand at RMB 18,900 per tonne and RMB 18,940 per tonne.

In line with the primary aluminium ingot price drop, aluminium alloy (A356) price has slipped by RMB 50 per tonne to stand at RMB 20,100 per tonne, according to SMM. The average prices are expected to range between RMB 19,900 per tonne and RMB 20,300 per tonne.

However, aluminium alloys (ADC12) price and aluminium alloy (A380) price have shown no change from RMB 19,300 per tonne and RMB 20,300 per tonne, respectively.