Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions

On December 20, 2024, a sudden development emerged as aluminium prices in the Shanghai Metals Market (SMM) witnessed a substantial surge. As of the latest trading session, the prices of both A00 aluminium ingot and aluminium alloy ingot have all seen notable increases.

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A00 aluminium ingot prices soar

The average price of A00 aluminium ingot, a key indicator of the aluminium market, has risen to RMB 19,830 per tonne (approximately US$2717), marking an increase of RMB 150 per tonne from the previous trading session. The spot contract was traded on Friday with a discount price of RMB 80 per tonne to a discount of RMB 120 per tonne.

The average A00 aluminium ingot pricing has risen in all eight listed provinces, with average prices of A00 aluminium ingot listed as RMB 19,770 per tonne (+170) in Gongyi, RMB 20,010 per tonne (+130) in Foshan, RMB 19,850 per tonne (+160) in Wuxi, RMB 19,880 per tonne (+170) in Hangzhou, RMB 19,900 per tonne (+120) in Chongqing, RMB 19,880 per tonne in Shenyang and Tianjin with increase of RMB 90 and RMB 80, respectively, and RMB 19,890 per tonne (+170) in Linyi. The price range in the provinces has varied between RMB 19,750 per tonne to RMB 19,910 per tonne.

Alumina prices drop after massive inflation

Alumina, a crucial raw material in aluminium production, has, on the contrary, seen a slender price cut. The last day of the week has seen an average price of alumina to stand in SMM listing at RMB 5,750 (approximately US$ 788) per tonne, reflecting an RMB 7 decrease from the previous day's session.

Coming to the provincial prices, Henan and Shanxi have witnessed a price drop of RMB 10 and RMB 15 from previous day and were listed as RMB 5,740 per tonne and RMB 5,780 per tonne. On the same date, alumina pricing in Lianyungang and Bayuquan was 50 bucks short to the previous listing and both were listed at a pricing of RMB 6,100 per tonne on Friday market.

Aluminium alloy ingot prices rise

As the third week of December concluded, prices of aluminium alloy ingot variants A356 and A360 rose by RMB 150 per tonne, rounding up to RMB 20,300 and RMB 20,450 per tonne, while ADC12 and A380 remain unchanged.

Other prices

High-purity aluminium variants 99.99% and 99.96% saw a cost-push of RMB 100 per tonne, resting at an average of RMB 26,900 and RMB 27,900 per tonne, respectively. On Friday's SMM listing, low-carbon aluminium was priced at RMB 21,028 per tonne, with an inflation of RMB 134 per tonne.