Chinese alumina price declines by RMB19/t after a week-long restraint, A00 aluminium ingot price plunges too

After remaining restrained for the past one week at RMB 2,643 per tonne, the average spot price of alumina has decided to record a movement today, October 22, by falling to RMB 2,624 per tonne, meaning a decline of RMB 19 per tonne, found Shanghai Metals Market. This marks the first drop this month since the Chinese market resumed after its National Day Holiday from October 1st to 7th. As the alumina price rose through the month before remaining restrained for a week, its decline today has not brought it lower than the month ago. Compared with the price in the same period last month, the average spot price of alumina is standing higher by RMB 32 per tonne.

In the major Chinese markets, east, central and south, the alumina price has decreased by RMB 10 per tonne to stand at 2,650 per tonne, RMB 2,640 per tonne, and RMB 2,630 per tonne. Only in the south, the price has registered no change from RMB 2,520 per tonne.

The A00 aluminium ingot price has also recorded a plunge on Tuesday, October 22, learned Shanghai Metals Market.  From RMB 13,960 per tonne, the price has dropped to RMB 13,930 per tonne. The average prices are expected to range between RMB 13,910 per tonne and RMB 13,950 per tonne, with spot contract to be traded at a premium price of RMB 60 per tonne to RMB 100 per tonne.

In Foshan, the aluminium ingot price has declined the highest by RMB 60 per tonne to RMB 13,860 per tonne, followed by Hangzhou and Gongyi, where the price has dropped by RMB 55 per tonne and RMB 50 per tonne to come in at RMB 13,940 per tonne and RMB 13,820 per tonne, respectively. In Wuxi, Chongqing and Linyi, the price has inched down by RMB 40 per tonne to RMB 13,930 per tonne, RMB 13,910 per tonne and RMB 13,960 per tonne, while that in Shenyang and Tianjin by RMB 35 per tonne and RMB 20 per tonne to RMB 13,880 per tonne and RMB 13,930 per tonne.