China’s alumina spot price nears RMB3000/t by building-up RMB76/t; But A00 aluminium ingot price slips by RMB80/t

The average alumina spot price in China has continued to increase for the third day in a row by RMB76 per tonne to RMB2,974 per tonne on Wednesday, September 1, found the Shanghai Metals Market.

In Guangxi and Guizhou, alumina price has surged by RMB125 per tonne to stand at RMB2,850 per tonne, and by RMB75 per tonne in Henan to RMB3,000 per tonne. In Shandong and Shanxi, alumina price has climbed RMB60 per tonne to settle at RMB2,925 per tonne and RMB3,000 per tonne, respectively.

Australian alumina FOB price has remained muted at US$320 per tonne.

SMM data shows prebaked anode price in the East has increased after remaining restrained since early August. The price has soared by RMB355 per tonne to stand at RMB5,230 per tonne, with average prices likely to range between RMB4,660-5,800 per tonne.

But despite the increase in input costs, China’s domestic A00 aluminium ingot price has slipped by RMB 80 per tonne to RMB21,160 per tonne on Wednesday, September 1, learned SMM. The average prices are expected to range between RMB21,140-21,180 per tonne, with spot contract to be traded at a premium price of RMB50-10 per tonne.

In Shenyang, the primary aluminium ingot price has declined sharply by RMB125 per tonne to close at RMB21,125 per tonne, followed by the decrease of RMB120 per tonne in Hangzhou and Linyi to RMB21,160 per tonne and RMB21,120 per tonne, respectively. In Wuxi, A00 aluminium ingot price has shrunk by RMB110 per tonne to RMB21,130 per tonne, while the price in Foshan and Chongqing has decreased by RMB80 per tonne to RMB21,240 per tonne and RMB21,160 per tonne, respectively.

Aluminium alloy (A356) price has slipped by RMB100 per tonne to settle at RMB21,750 per tonne, while aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained muted at RMB20,900 per tonne and RMB22,100 per tonne.