China’s alumina spot price continues to surge by RMB73/t to RMB2972/t; A00 aluminium ingot price hikes by RMB130/t

The average alumina spot price in China has surged for the second day in a row by RMB 73 per tonne to come in at RMB 2,972 per tonne as of Tuesday, January 18. In Henan and Shanxi, the price has soared by RMB 85 per tonne to settle at RMB 2,995 per tonne. The average prices are expected to range between RMB 2,940-3,050 per tonne.

In Shandong and Guizhou, on the other hand, alumina price has increased by RMB 50 per tonne and RMB 30 per tonne, respectively, to close at RMB 3,000 per tonne and RMB 2,850 per tonne, as of January 18.

The Australian alumina FOB price has inched up by US$1 per tonne to stand at US$347 per tonne, found the Shanghai Metals Market.

Among the other primary aluminium input costs, caustic soda price has gained RMB 50 per tonne to stand at RMB 2,600 per tonne, with average prices likely to range between RMB 2,400 per tonne and RMB 2,800 per tonne.

Amid the raw materials price surge, A00 aluminium ingot price has hiked by RMB 130 per tonne to come in at RMB 21,210 per tonne on January 18, learned SMM. The average prices are estimated to range between RMB 21,190 per tonne and RMB 21,230 per tonne, with spot contract likely to be traded at a premium price of RMB 10-50 per tonne.

In Hangzhou, A00 aluminium ingot price has surged by RMB 145 per tonne to stand at RMB 21,225 per tonne, followed by the hike of RMB 135 per tonne in Wuxi to RMB 21,220 per tonne and the rise of RMB 130 per tonne in Chongqing to RMB 21,220 per tonne. In Gongyi, the primary aluminium ingot price has increased by RMB 120 per tonne to settle at RMB 21,020 per tonne, while the price in Foshan and Linyi has grown by RMB 100 per tonne to close at RMB 21,180 per tonne and RMB 21,160 per tonne, respectively.

Low-carbon aluminium price has hiked by RMB 107 per tonne to peg at RMB 21,788 per tonne on January 18, found SMM.