China’s alumina spot price declines for the fourth day by RMB14/t; A00 aluminium ingot price grows by RMB30/t

The average alumina spot price in China has plummeted by RMB 14 per tonne over the weekend to reach RMB 2,903 per tonne as of Monday, April 17, found the Shanghai Metals Market. In Shanxi, the alumina price has slumped by RMB15 per tonne to stand at RMB 2,925 per tonne.

On the other hand, in Shandong, Henan, Guizhou, and Guangxi, alumina spot price has remained restrained at RMB 2,910 per tonne, RMB 2,960 per tonne, RMB 2,850 per tonne, and RMB 2,800 per tonne, respectively.

The Australian alumina FOB price has slipped by US$3 per tonne to start the week at US$355 per tonne on April 17.

However, despite the decline in alumina spot price, A00 aluminium ingot price has gained RMB 30 per tonne, marking a growth for the fourth consecutive day. According to SMM, the price has settled at RMB 18,740 per tonne, with the average prices likely to range between RMB 18,720 per tonne and RMB 18,760 per tonne. The spot contract is estimated to range between a discount price of RMB 40 and a premium price of RMB 0 per tonne.

In Hangzhou, A00 aluminium ingot price has escalated by RMB 210 per tonne to stand at RMB 18,730 per tonne, followed by an increase of RMB 80 per tonne in Linyi to RMB 18,790 per tonne and RMB 50 per tonne in Foshan and Tianjin to RMB 18,870 per tonne and RMB 18,740 per tonne, respectively.

Meanwhile, aluminium alloys (ADC12) and aluminium alloy (A380) prices have started the week on a muted note at RMB 19,250 per tonne and RMB 20,250 per tonne, respectively, learned SMM. But the average price of aluminium alloy (A356) has grown by RMB 50 per tonne to peg at RMB 19,650 per tonne, with average prices likely to range between RMB 19,500 per tonen and RMB 19,800 per tonne.