Alumina spot price in China grows by RMB7/t; SMM aluminium price dwindles by RMB140/t

On Friday, July 28, the average alumina spot price in China has grown by RMB 7 per tonne to close at RMB 2,871 per tonne. The price in Guangxi has gained RMB 10 per tonne to settle at RMB 2,865 per tonne, followed by a hike of RMB 5 per tonne in Shanxi and Guizhou to clock at RMB 2,880 per tonne and RMB 2,860 per tonne.

On the same day, the domestic aluminium ingot price has dwindled by RMB 140 per tonne to come in at RMB 18,350 per tonne, with the average prices standing between RMB 18,330 per tonne and RMB 18,370 per tonne. The spot contract price is expected to be traded at a discount price of RMB 10 per tonne to a premium price of RMB 30 per tonne. The A00 aluminium ingot price in Hangzhou has slumped by RMB 150 per tonne to reside at RMB 18,350 per tonne, followed by a drop of RMB 140 per tonne in Gongyi, Foshan and Linyi to halt at RMB 18,320 per tonne, RMB 18,350 per tonne and RMB 18,400 per tonne.

As per the SMM data, the prices in Foshan and Chongqing have descended by RMB 130 per tonne to peg at RMB 18,340 per tonne and RMB 18,350 per tonne. The prices in Shenyang and Tianjin have fallen by RMB 120 per tonne to stop at RMB 18,310 per tonne and RMB 18,350 per tonne.

The domestic price of low-carbon aluminium has registered a fall of RMB 100 per tonne to come in at RMB 19,006 per tonne. The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have slumped by RMB 100 per tonne to peg at RMB 25,800 per tonne and RMB 26,800 per tonne.

The aluminium alloy (A356) price has declined by RMB 150 per tonne to clock in at RMB 18,950 per tonne. The average prices are expected to range between RMB 18,800 per tonne and RMB 19,100 per tonne. The aluminium powder price has dipped by RMB 0.1 per kg to reside at RMB 20.1 per kg.