China’s alumina spot price gains RMB6/t after a week-long restraint; A00 aluminium ingot price shrinks to RMB20720/t

According to the Shanghai Metals Market, the average alumina spot price has increased by RMB 6 per tonne after remaining restrained at RMB 3,010 per tonne from April 22 to 29. Hence, as of May 5, the price is standing at RMB 3,016 per tonne.

In Henan, alumina price has hiked by RMB 15 per tonne to stand at RMB 3,075 per tonne, with average prices estimated to range between RMB 3,020 per tonne and RMB 3,130 per tonne. However, in other provinces, alumina spot price has remained unchanged.

The Australian alumina FOB price has also recorded an increase of US$3 per tonne to come in at US$373 per tonne, learned SMM.

But despite the rise in alumina price, A00 aluminium ingot price has decreased by RMB 90 per tonne to stand at RMB 20,720 per tonne, following an increase of RMB 120 per tonne on April 28 prior to the May Day Holiday. The average prices are expected to range between RMB 20,700 per tonne and RMB 20,740 per tonne, with as spot contract likely to be traded at a discount price of RMB 60-20 per tonne.

Among the Chinese provinces, Tianjin has seen the highest downfall of RMB 1,070 per tonne to stand at RMB 20,770 per tonne, with average prices likely to range between RMB 20,760 per tonne and RMB 20,780 per tonne.  In Gongyi, primary aluminium ingot price has slid by RMB 180 per tonne to RMB 20,890 per tonne, while the price in Chongqing and Linyi has shrunk by RMB 160 per tonne to rest at RMB 20,730 per tonne and RMB 20,850 per tonne, respectively.

Aluminium alloy (A356) price has registered a decline of RMB 100 per tonne to come in at RMB 21,850 per tonne, with average prices are estimated to range between RMB 21,700 per tonne and RMB 22,000 per tonne, found SMM.

On the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained restrained at RMB 21,600 per tonne and RMB 22,600 per tonne.