Alumina price in China slumps by RMB10/t; A00 aluminium ingot price dwindles by RMB80/t
On Monday, June 12, the average alumina spot price has descended by RMB 10 per tonne to reside at RMB 2,833 per tonne. The price in Henan has decreased by RMB 20 per tonne to peg at RMB 2,900 per tonne. In Shandong and Shanxi, the alumina price has fallen by RMB 10 per tonne to clock at RMB 2,815 per tonne, respectively. In Guizhou, the average alumina spot price has moved down by RMB 5 per tonne to stop at RMB 2,825 per tonne.
China's A00 aluminium ingot price opened the week with a drop of RMB 80 per tonne to close at RMB 18,570 per tonne, with the average prices between RMB 18,550 per tonne and RMB 18,590 per tonne. The spot contract price may be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. As per the data, the A00 aluminium ingot prices have fallen in most provinces except Shenyang, Tianjin and Linyi.
The price in Shenyang has hiked by RMB 160 per tonne to close at RMB 18,630 per tonne, followed by a growth of RMB 50 per tonne in Tianjin and RMB 30 per tonne in Linyi. The A00 aluminium ingot price in Tianjin closed at RMB 18,550 per tonne and RMB 18,500 per tonne. The Chinese economy is now recuperating from the effects of COVID-19, and corporate balance sheets are being restored, according to a statement issued by the People's Bank of China (PBOC), quoting Governor Yi Gang.
On the other hand, the price in Foshan has dropped by RMB 140 per tonne to halt at RMB 18,520 per tonne. As per the data, in Gongyi and Wuxi, the A00 aluminium ingot price has contracted by RMB 110 per tonne and RMB 90 per tonne to close at RMB 18,430 per tonne and RMB 18,550 per tonne. In Hangzhou and Chongqing, the prices have fallen by RMB 80 per tonne, scoring at RMB 18,570 per tonne and RMB 18,550 per tonne.
The domestic price of low-carbon aluminium has contracted by RMB 141 per tonne to come in at RMB 19,128 per tonne. The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have dwindled by RMB 100 per tonne to score at RMB 26,100 per tonne and RMB 27,100 per tonne.
The aluminium alloy (A356) price has slumped by RMB 100 per tonne to peg at RMB 19,250 per tonne, with the average prices expected to range between RMB 19,100 per tonne and RMB 19,400 per tonne.
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