Chinese spot alumina price drops today after two weeks of restraint; Aluminium ingot price rises

After remaining restrained since the end of January, the alumina spot price today, on February 13, has recorded a plunge by RMB 15 per tonne to RMB 2,793 per tonne, found Shanghai Metals Market. From January 29 to February 12, the price of alumina stood at RMB 2,808 per tonnes with no intermittent rise or fall.

In the east and central, the spot alumina price has dropped by RMB 20 per tonne to stand at RMB 2,830 per tonne and RMB 2,810 per tonne respectively. In the south and north, on the other hand, the price has dipped by RMB 10 per tonne and by RMB 15 per tonne to hover at RMB 2,770 per tonne and RMB 2,795 per tonne.

The Australian alumina FOB price has also registered a plunge today by US$5 per tonne to US$375 per tonne. Unlike Chinese alumina price, the global price had recorded a back-to-back rise in the meantime on February 11 and February 12, from US$364.50 per tonne to US$378 per tonne and then to US$380 per tonne.

However, despite a fall in alumina spot price, the A00 aluminium ingot price is up today by RMB 20 per tonne to stand at RMB 13,290 per tonne, according to SMM. The average prices are expected to range between RMB 13,270 per tonne and RMB 13,310 per tonne, with spot discounts up by RMB 30 per tonne to settle at RMB 50 per tonne to RMB 10 per tonne.

In the east (Wuxi and Hangzhou), the aluminium ingot price has increased by RMB 20 per tonne and hovering at RMB 13,300 per tonne while that in the north and south has climbed by RMB 10 per tonne and RMB 25 per tonne to clock at RMB 13,330 per tonne and RMB 13,320 per tonne.