China’s alumina spot price dips by RMB5/t to RMB2301/t after a restraint last day; A00 aluminium ingot price rises

The average alumina spot price in China has recorded a drop of RMB 5 per tonne to stand at RMB 2,301 per tonne on Thursday, October 22, after remaining restrained last day, found the Shanghai Metals Market,. In Shanxi, the price has declined by RMB 10 per tonne to come in at RMB 2,290 per tonne, while its average prices are expected to range between RMB 2,280 per tonne and RMB 2,300 per tonne. In Shandong and Henan, however, the price has remained restrained at RMB 2,285 per tonne and RMB 2,300 per tonne, respectively.

In Guangxi and Guizhou, the average alumina price has decreased by RMB 15 per tonne and RMB 5 per tonne to stand at RMB 2,330 per tonne and RMB 2,340 per tonne, respectively.

China’s imported alumina price has slid by RMB 10 per tonne to RMB 2,320 per tonne, while the price of Australian Alumina FOB has remained muted at US$ 277 per tonne.

A00 aluminium ingot price has, however, increased by RMB 60 per tonne to RMB 14,950 per tonne, as of October 22, after declining in the last two consecutive days from RMB 15,060 per tonne to RMB 14,890 per tonne. The average prices are expected to range between RMB 14,930 per tonne and RMB 14,970 per tonne, with spot contract to be traded at a premium price of RMB 190-230 per tonne.

Foshan has seen the highest hike in A00 aluminium ingot price of RMB 130 per tonne to RMB 15,010 per tonne, followed by a rise of RMB 70 per tonne to RMB 14,850 per tonne in Gongyi and RMB 60 per tonne to RMB 14,915 per tonne in Shenyang. In Chongqing, the price has climbed by RMB 55 per tonne to RMB 14,870 per tonne, while that in Wuxi and Tianjin has grown by RMB 40 per tonne to RMB 14,950 per tonne and RMB 14,930 per tonne, respectively. In Hangzhou, primary aluminium ingot price has inched down by RMB 30 per tonne to RMB 14,960 per tonne, while that in Linyi has decreased by RMB 30 per tonne to RMB 14,940 per tonne.

Aluminium alloy (A356) price has grown as well by RMB 50 per tonne to RMB 15,550 per tonne, according to SMM. The average prices are expected to range between RMB 15,500 per tonne and RMB 15,600 per tonne.