China’s alumina spot price continues to grow to stand at RMB3074/t; A00 aluminium ingot price settles RMB100/t higher

The average alumina spot price in China has continued to grow for the fifth day in a row to reach at RMB3,074 per tonne as of Friday, September 3. According to the Shanghai Metals Market, the price has increased by RMB45 per tonne today from RMB3,029 per tonne on September 2.

In Shandong, alumina price has surged by RMB75 per tonne to stand at RMB3,075 per tonne, while the price in Henan and Shanxi has climbed RMB50 per tonne to come in at RMB3,100 per tonne.

Australian alumina FOB price has, however, continued to remain restrained at US$320 per tonne as of September 3.

Among other primary aluminium input costs, aluminium powder price has inched up by RMB0.10 per kg to stand at RMB24.85 per kg. The average prices are expected to range between RMB24.8-24.9 per kg.

A00 aluminium ingot price has increased by RMB100 per tonne to settle at RMB21,330 per tonne on September 3. The average prices are expected to range between RMB21,310 per tonne and RMB21,350 per tonne, with spot contract to be traded at a premium price of RMB40-0 per tonne.

In Tianjin, A00 aluminium ingot price has jumped by RMB140 per tonne to come in at RMB21,310 per tonne, followed by the hike of RMB120 per tonne in Chongqing to RMB21,350 per tonne. In Wuxi and Shenyang, primary aluminium ingot price has grown by RMB100 per tonne and RMB95 per tonne to settle at RMB21,350 per tonne and RMB21,330 per tonne, while the price in Gongyi and Foshan has climbed by RMB 90 per tonne to close at RMB21,210 per tonne and RMB21,440 per tonne, respectively.

Aluminium alloys(ADC12) price and aluminium alloy(A380) price have edged RMB200 per tonne higher to close at RMB21,100 per tonne and RMB22,300 per tonne, while aluminium alloy(A356) price has grown by RMB100 per tonne to stand at RMB22,350 per tonne.