China’s average alumina spot price continues to rise by RMB14/t; Imported bauxite price grows by US$2/t after a year-long restraint

The average alumina spot price in China has continued to rise by RMB 14 per tonne to reach RMB 4,105 per tonne on Thursday, October 21, found the Shanghai Metals Market. Except in Guangxi, the alumina price in Henan and Shanxi has increased by RMB 15 per tonne to stand at RMB 4,135 per tonne. The price in Shandong has also gained RMB 15 per tonne but to settle at RMB 4,110 per tonne on October 21.

In Guangxi, the domestic alumina price has remained restrained at RMB 3,890 per tonne. Also, the Australian alumina FOB price has remained muted at US$480 per tonne.

Aluminium fluoride price has jumped by RMB 500 per tonne to come in at RMB 10,500 per tonne on October 21. The average prices are expected to range between RMB 10,000 per tonne and RMB 11,000 per tonne.

China’s imported bauxite price has also inched up by US$2 per tonne to stand at US$43 per tonne, following a year-long restraint since November 30, 2020. The average prices are likely to range between US$42-43 per tonne.

Backed on the increase in input costs, China’s A00 aluminium ingot price has climbed by RMB 220 per tonne to stand at RMB 23,340 per tonne on October 21. The average prices are expected to range between RMB 23,320 per tonne and RMB 23,360 per tonne, with spot contract likely to be traded at a premium price of RMB 160-120 per tonne.

Except in Chongqing and Shenyang, the primary aluminium ingot price growth has touched upon all the major cities in China. Among them, Linyi has seen the highest increase of RMB 330 per tonne to stand at RMB 23,330 per tonne, followed by the hike of RMB 300 per tonne in Tianjin to peg at RMB 23,350 per tonne. 

In Chongqing and Shenyang, A00 aluminium ingot price has plummeted by RMB 1,100 per tonne and RMB 1,025 per tonne, respectively, to close at RMB 23,090 per tonne and RMB 23,165 per tonne on October 21.