Chinese A00 aluminium ingot price extends its growth further, but alumina price declines

The A00 aluminium ingot price continues to rise post-Christmas day, December 26, from RMB 13,630 per tonne to RMB 13,710 per tonne, marking a growth by RMB 80 per tonne, Shanghai Metals Market found. The ingot price has been rising since December 21 and today it marks the fourth consecutive hike. So far, today’s price is the highest this month. The average prices today are expected to range between RMB 13,690 per tonne and RMB 13,730 per tonne, with spot discounts to settle at RMB 110 per tonne to RMB 70 per tonne.

In the east, Wuxi, the ingot price climbed RMB 60 per tonne to stand at RMB 13,685 per tonne while in Hangzhou, the price increased RMB 40 per tonne to clock at RMB 13,690 per tonne. In the south and north, the prices grew by RMB 80 per tonne and RMB 25 per tonne and stood at RMB 13,870 per tonne and RMB 13,640 per tonne, respectively.

However, amidst the continued rising of A00 aluminium ingot price, the alumina price in the Chinese spot market shows no sign of increase. Rather, today, on December 26, it decreased further to RMB 2,950 per tonne after remained restraint for a day at RMB 3005 per tonne on December 25.

In the east, the price declined RMB 50 per tonne to stand at RMB 2,980 per tonne while in the central, north, and south, the prices dropped RMB 70 per tonne, RMB 50 per tonne, and RMB 30 per tonne to stand at RMB 2,950 per tonne, RMB 2,930 per tonne, and RMB 2,995 per tonne, respectively.

The Australian alumina FOB price, however, has been showing restraint at RMB 415 per tonne since December 21.

The only aluminium raw material that recorded a growth on December 26 was aluminium powder. It climbed RMB 0.10 per tonne from RMB 17.10 per kg to RMB 17.20 per kg, SMM learned. Prices of other raw materials like bauxite, the pre-baked anode, and aluminium fluoride showed no price change.