Chinese A00 aluminium ingot price extends hike despite sluggish alumina spot price

Despite a fall in alumina spot price on January 16, the A00 aluminium ingot price continues to record a rise today, on January 17, from RMB 13,240 per tonne to RMB 13,300 per tonne, found Shanghai Metals Market. The ingot price is seen oscillating throughout this month so far. Since the beginning, it has registered a rise for a day or two after consecutive drops. However, today, the average prices are expected to range between RMB 13,280 per tonne and RMB 13,320 per tonne, with spot discounts to settle at RMB 70 per tonne to RMB 30 per tonne.

As the ingot price increase has touched almost all the major markets in China, the prices in the east market (Wuxi and Hangzhou) have seen a jump by RMB 55 per tonne and RMB 45 per tonne to stand at RMB 13,305 per tonne. In the south and north, the prices have climbed by RMB 80 per tonne and RMB 50 per tonne to RMB 13,340 per tonne and RMB 13,290 per tonne, respectively.

Alumina spot price, on the other hand, shows no change today, on January 17, after a drop yesterday from RMB 2,879 per tonne to RMB 2,862 per tonne, according to SMM.

The alumina price in the north also shows restraint today after a decline yesterday from RMB 2,860 per tonne to RMB 2,820 per tonne. But the price in other markets of east, central, and south has shown no recent change and has been hovering at RMB 2,910 per tonne, RMB 2,900 per tonne and RMB 2,860 per tonne respectively for over a week almost.

Other input costs like that of bauxite, the pre-baked anode, and aluminium fluoride display no sign of change either. Only the aluminium powder decided to record a hike and rebound to the price RMB 16.80 per kg, like it was from January 3 to January 10, learned SMM.