Chinese alumina spot price expands by RMB35/t on market sentiment boost, A00 aluminium ingot price down by RMB20/t

The average alumina spot prices in China have continued to rally upon the market boost on Chalco’s announcement of alumina production cut, found Shanghai Metals Market. On Tuesday, July 7, the average alumina spot price has expanded by RMB 35 per tonne to stand at RMB 2,370 per tonne.

In the central and north, the average alumina price has also recorded a hike of RMB 35 per tonne to hover at RMB 2,380 per tonne, while that in the east has grown by RMB 50 per tonne to come in at RMB 2,350 per tonne, according to SMM data. In the south, however, the price has remained restrained at RMB 2,520 per tonne.

The imported alumina price has jumped by RMB 25 per tonne to stand at RMB 2,300 per tonne, but the Australian alumina FOB price has remained muted at US$ 264 per tonne.

However, despite the extended growth in the average alumina spot price, the A00 aluminium ingot price has inched down by RMB 20 per tonne to RMB 14,420 per tonne. The average prices are expected to range between RMB 14,400 per tonne and RMB 14,440 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne.

Linyi has seen the highest downfall in aluminium ingot price today of RMB 50 per tonne to stand at RMB 14,360 per tonne. Tianjin and Gongyi have seen a fall of RMB 40 per tonne and RMB 25 per tonne to RMB 14,370 per tonne and RMB 14,235 per tonne, respectively, while the price in Hangzhou and Foshan has decreased by RMB 15 per tonne and RMB 10 per tonne to RMB 14,435 per tonne and RMB 14,460 per tonne. In Wuxi and Chongqing, the ingot price has declined by RMB 5 per tonne to RMB 14,435 per tonne and RMB 14,355 per tonne and that in Shenyang has remained restrained at RMB 14,370 per tonne.