Imported alumina price in China gains RMB15/t after an intermittent fall; Domestic A00 aluminium ingot price grows to RMB21770/t

The average alumina spot price in China has dipped by RMB 10 per tonne on Wednesday, March 16, to stand at RMB 2,964 per tonne, found the Shanghai Metals Market. In Shandong, alumina price has decreased by RMB 25 per tonne to come in at RMB 2,910 per tonne, while the price in Shanxi has dropped by RMB 5 per tonne to peg at RMB 2,955 per tonne. But the price in Henan, Guangxi, and Guizhou has remained restrained at RMB 3,000 per tonne, RMB 2,965 per tonne, and RMB 2,940 per tonne, respectively.

Meanwhile, the Australian alumina FOB price has gained US$15 per tonne to settle at US$525 per tonne on March 16, following an intermittent restraint at US$510 per tonne.

Domestic A00 aluminium ingot price, on the other hand, has increased by RMB 40 per tonne to close at RMB 21,770 per tonne as of March 16, 2022. The average prices are expected to range between RMB 21,750 per tonne and RMB 21,790 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne.

In Foshan, A00 aluminium ingot price has climbed up by RMB 80 per tonne to RMB 21,800 per tonne, followed by the rise of RMB 70 per tonne in Chongqing and Tianjin to stand at RMB 21,740 per tonne and RMB 21,810 per tonne. In Wuxi, Hangzhou, and Shenyang, primary aluminium ingot price has grown by RMB 40 per tonne, while the price in Linyi has built up by RMB 30 per tonne, learned SMM.

But despite the increase in A00 aluminium ingot price, aluminium alloys prices have recorded a sharp downfall. Both aluminium alloys (ADC12) price and aluminium alloy (A380) price have dwindled by RMB 200 per tonne to come in at RMB 22,200 per tonne and RMB 23,200 per tonne, respectively. The average prices of aluminium alloys (ADC12) price are expected to range between RMB 22,100-22,300 per tonne, and that of aluminium alloy (A380) are likely to be around RMB 23,100-23,300 per tonne.