China’s alumina spot price drops for the second day by RMB2/t; A00 aluminium ingot price gains RMB40/t

According to the Shanghai Metals Market survey, the average alumina spot price has dropped by RMB 2 per tonne, marking a second consecutive day of fall. On the previous day, the average alumina price decreased by RMB 4 per tonne to stand at RMB 3,328 per tonne. Today, the price has come in at RMB 3,326 per tonne after losing RMB 2 per tonne.

Among the provinces, only Shanxi has witnessed a fall in the alumina price, while the rest have seen restraints. According to SMM, the average alumina spot price has shrunk by RMB 5 per tonne to settle at RMB 3,330 per tonne.

A00 aluminium ingot price

In contrast, China's domestic A00 aluminium ingot price has gained today, following a decline of RMB 70 per tonne the previous day. According to SMM, the ingot price has declined by RMB 40 per tonne to stand at RMB 19,130 per tonne on March 12, with average prices likely to range between RMB 19,110 per tonne and RMB 19,150 per tonne. The spot contract is estimated to be traded at a discount price of RMB60-20 per tonne.

Aluminium ingot price across provinces

However, today's A00 aluminium ingot price growth has not touched upon all the Chinese provinces, such as Chongqing, Shenyang, Tianjin, and Linyi. In Chongqing and Linyi, A00 aluminium ingot price has decreased by RMB 50 per tonne to RMB 19,060 per tonne and RMB 19,090 per tonne, followed by the fall of RMB 30 per tonne and RMB 20 per tonne in Shenyang and Tianjin to RMB 19,040 per tonne and RMB 19,100 per tonne.

Provinces that have witnessed growth today include Gongyi, Foshan, Wuxi, and Hangzhou. In Foshan, the A00 aluminium ingot price has ascended by RMB 50 per tonne to peg at RMB 19,110 per tonne, while the price in Gongyi, Wuxi, and Hangzhou has moved up by RMB 30 per tonne to stand at RMB 19,010 per tonne and RMB 19,120 per tonne, respectively.

Among aluminium alloy prices, aluminium alloy (A356) price has increased by RMB 50 per tonne to stand at RMB 19,750 per tonne as of Tuesday, March 12. The average prices are estimated to range between RMB 19,600 per tonne and RMB 19,900 per tonne, found SMM.