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29 MAY 2023 AL CIRCLE

China’s domestic alumina spot price continues declining over the weekend to RM2853/t: SMM

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The average alumina spot price in China has extended decline over the weekend, marking the fifth consecutive day of downfall since Tuesday, May 23. Shanghai Metals Market finds the alumina price starts the week with a fall of RMB 8 per tonne to stand at RMB 2,853 per tonne as of Monday, May 29. After an incessant decline almost throughout the week, China’s domestic alumina spot price stands 0.77 per cent lower W-o-W than RMB 2,875 per tonne.

China’s domestic alumina spot price continues declining over the weekend to RM2853/t: SMM

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In Shandong, the average alumina spot price has dwindled by RMB 20 per tonne to settle at RMB 2,845 per tonne, followed by a decline of RMB 10 per tonne in Henan to RMB 2,920 per tonne and RMB 5 per tonne in Shanxi to RMB 2,850 per tonne, found SMM.

Meanwhile, the Australian alumina FOB price has remained restrained at US$340 per tonne.

A00 aluminium ingot price, on the other hand, has increased by RMB 200 per tonne to start the week at RMB 18,360 per tonne, according to SMM. The average prices are estimated to range between RMB 18,340 per tonne and RMB 18,380 per tonne, with the spot contract to trade at a premium price of RMB 100-140 per tonne.

In Hangzhou, the primary aluminium ingot price has also come in at RMB 18,360 per tonne, gaining RMB 210 per tonne over the weekend. In Foshan, Chongqing, and Shenyang, A00 aluminium ingot price has expanded by RMB 200 per tonne to peg at RMB 18,350 per tonne, RMB 18,360 per tonne, and RMB 18,410 per tonne. In Gongqyi and Linyi, the ingot price has heightened by RMB 190 per tonne to stand at RMB 18,210 per tonne and RMB 18,410 per tonne, while the price in Tianjin has grown by RMB 150 per tonne to clock at RMB 18,360 per tonne.

China’s domestic low-carbon aluminium price has climbed by RMB 200 per tonne to RMB 18,943 per tonne as of May 29.

In response to the continued growth of the A00 aluminium ingot price, aluminium alloy (A356) price has recorded a rise of RMB 200 per tonne to exceed the RMB 19,000 per tonne level. According to SMM, aluminium alloy (A356) price has come in at RMB 19,150 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have grown by RMB 100 per tonne to reach RMB 18,600 per tonne and RMB 19,600 per tonne on May 29.

Tagged with:

Price SMM Alumina price

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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