China’s SMM aluminium price marks RMB10/t hike and average alumina spot price collects RMB2/t

According to the Shanghai Metal Market, the aluminium spot price in China has spiked by RMB10 per tonne to RMB 18,550 per tonne, with average prices hovering between RMB 18,530 per tonne and RMB 18,570 per tonne, today, July 3. The aluminium spot price has returned to the price range it started the second quarter with. Instead, there has been a drop of RMB 40 per tonne or 0.21 per cent from RMB 18,590 per tonne, recorded on April 4 this year.

The eight major provinces in China all displayed escalating prices today, other than Hangzhou, where the aluminium spot price fell by RMB 20 per tonne to settle at RMB 18,520 per tonne. The aluminium spot price in Chongqing has gone up the graph by RMB 50 per tonne, closing at RMB 18,610 per tonne. In Foshan and Wuxi, there has been a uniform rise of RMB 20 per tonne, with the aluminium prices closing at RMB 18,740 per tonne and RMB 18,520 per tonne.

In Gongyi, Shenyang and Linyi, the aluminium prices have all increased by RMB 10 per tonne to halt at RMB 18,350 per tonne, RMB 18,510 per tonne and RMB 18,470 per tonne. Only in Tinajin has there been no noticeable change, with the aluminium price sticking at RMB 18,570 per tonne.

The price of low-carbon aluminium has jumped RMB 41 per tonne, to rest at RMB 19,364 per tonne, as per SMM's data. 

The average alumina spot price has gained RMB 2 per tonne, officially closing at RMB 2,818 per tonne, while the alumina price in Shandong has hiked by RMB 5 per tonne to close at RMB 2,785 per tonne. The alumina price in Shanxi has also earned RMB 5 per tonne, stopping at RMB 2,800 per tonne.