Operation resumption at aluminium enterprises further lifts A00 aluminium ingot price by RMB150/t; caustic soda price gains RMB15/t

A00 aluminium ingot price in China has extended growth by RMB 150 per tonne on Thursday, May 12, to stand at RMB 20,270 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 20,250 per tonne and RMB 20,290 per tonne, with spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne.

The price hike is supported by normal resumption of production at most of the aluminium enterprises. As the impact of the pandemic has subsided, more enterprises are resuming their operations, boosting the market trading confidence.

In Wuxi and Hangzhou, the primary aluminium ingot price has increased by RMB 140 per tonne to hover around RMB 20,270 per tonne and RMB 20,320 per tonne, followed by a hike of RMB 130 per tonne in Shenyang to RMB 20,250 per tonne. A00 aluminium ingot price in Tianjin has also settled at RMB 20,250, gaining RMB 100 per tonne. In Gongyi and Chongqing, primary aluminium ingot price is resting at RMB 20,250 per tonne and RMB 20,300 per tonne after being grown by RMB 110 per tonne and RMB 80 per tonne.

Domestic price of low-carbon aluminium in China has also recorded a rise of RMB 100 per tonne to stand at RMB 20,943 per tonne as of May 12.

Among primary aluminium input costs, caustic soda (50% concentration) price in Shandong has climbed up by RMB 15 per tonne to come in at RMB 1,950 per tonne, learned SMM. The average prices are estimated to range between RMB 1,930 per tonne and RMB 1,970 per tonne. However, caustic soda (32% concentration) price in Shandong has remained muted at RMB 1,230 per tonne.

Aluminium powder price has inched up by RMB 0.20 per kg to close at RMB 22.10 per kg, with average prices to range between RMB 22 per kg and RMB 22.20 per kg.

Backed on the rise in A00 aluminium ingot, aluminium alloy (A356) price has also recorded a hike of RMB 150 per tonne to settle at RMB 21,450 per tonne on May 12, 2022. According to SMM, the average prices are estimated to range between RMB 21,300 per tonne and RMB 21,600 per tonne.

However, aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained restrained at RMB 21,200 per tonne and RMB 22,200 per tonne, respectively.