China’s domestic A00 aluminium ingot price slumps by RMB360/t over the weekend; Alumina price inches up by RMB1/t

According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has plummeted by RMB 360 per tonne over the weekend to reach RMB 20,810 per tonne as of Tuesday, June 11. That brought the price week-on-week lower by 1.79 per cent from RMB 21,190 per tonne. Today, the average prices are estimated to range between RMB 20,790 per tonne and RMB 20,830 per tonne, with a spot contract to be traded at a discount of RMB 70-30 per tonne. The A00 aluminium ingot price fell over the weekend on mixed trading sentiment and a rise in dollar value.

In Foshan, A00 aluminium ingot price has also plunged by RMB 360 per tonne to RMB 20,690 per tonne, followed by a downfall of RMB 340 per tonne in Hangzhou and Linyi to come in at RMB 20,830 per tonne and RMB 20,860 per tonne, respectively. In Chongqing, A00 aluminium ingot price has decreased by RMB 345 per tonne to RMB 20,770 per tonne, while the price in Shenyang has suffered a loss of RMB 330 per tonne to RMB 20,760 per tonne.

The domestic low-carbon aluminium price has also witnessed a downfall over the weekend, settling at RMB 21,682 per tonne, down by RMB 366 per tonne from the previous day.

Input costs

According to SMM, the average alumina spot price has gained slightly by RMB 1 per tonne to stand at RMB 3,906 per tonne as of June 11, returning to the same level as the earlier week. In Shandong, alumina price has increased by RMB 5 per tonne to stand at RMB 3,890 per tonne, with average prices to range between RMB 3,850 per tonne and RMB 3,930 per tonne.

The Australian alumina FOB price has also increased by US$5 per tonne to US$495 per tonne, up 3.56 per cent from US$478 per tonne.

Among other primary aluminium input costs, aluminium powder has dropped by RMB 0.40 per kg to close the day at RMB 23.5 per kg, reflecting a week-on-week dip of 1.67 per cent compared to RMB 23.9 per kg. The average prices are expected to range between RMB 23.4 per kg and 23.6 per kg.

Aluminium alloy prices

In line with A00 aluminium ingot price, aluminium alloy (A356) price has slumped by RMB 350 per tonne to rest at RMB 21,350 per tonne as of June 11. That marked a week-on-week downfall of 1.61 per cent from RMB 21,700 per tonne but a month-on-month increase of 1.18 per cent from RMB 21,100 per tonne. The average prices of aluminium alloy (A356) are expected to hover around RMB 21,200-21,500 per tonne.

The prices of aluminium alloys (ADC12) and aluminium alloys (A380) have descended by RMB 100 per tonne to RMB 20,400 per tonne and RMB 21,400 per tonne, respectively