SMM A00 aluminium ingot price declines by 3.82% M-o-M; Domestic bauxite price demonstrates upward trend Y-o-Y

On July 4, China’s A00 aluminium ingot price gained RMB 90 per tonne, settling at RMB 20,380 per tonne. The spot contract price may be traded at a discount price of RMB 70 to RMB 30 per tonne, and the average prices may orbit between RMB 20,360 per tonne and RMB 20,400 per tonne.

According to the SMM data, the domestic aluminium ingot price has surged by RMB 1,840 per tonne, or 9.92 per cent Y-o-Y, from RMB 18,540 per tonne. However, M-o-M prices recorded a decline of RMB 810 per tonne, or 3.82 per cent, from RMB 20,380 per tonne. If we see the W-o-W analysis, the SMM A00 aluminium ingot price hiked by RMB 260 per tonne, or 1.29 per cent, from RMB 20,120 per tonne.

Region-wise price changes

Today, the prices in Wuxi and Foshan have added RMB 80 per tonne and RMB 70 per tonne to arrive at RMB 20,380 per tonne and RMB 20,170 per tonne. The domestic aluminium ingot prices in Hangzhou, Chongqing and Tianjin have expanded by RMB 70 per tonne to clock at RMB 20,380 per tonne, RMB 20,280 per tonne and RMB 20,380 per tonne. In Shenyang and Linyi, the prices have ascended by RMB 60 per tonne and RMB 40 per tonne to dock at RMB 20,300 per tonne and RMB 20,350 per tonne.

China’s domestic low-carbon aluminium price has grown by RMB 64 per tonne to settle at RMB 21,114 per tonne. The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have expanded by RMB 100 per tonne to reach RMB 27,800 per tonne and RMB 28,800 per tonne.

Aluminium alloy prices

In tandem with the A00 aluminium ingot price, the aluminium alloy price has also shown significant growth. The price for (ADC12) has hiked by RMB 100 per tonne to stand at RMB 20,050 per tonne, with the average prices ranging between RMB 19,950 per tonne and RMB 20,150 per tonne.

For aluminium alloy (A356) and aluminium alloy (A380), the prices have grown by RMB 100 per tonne to halt at RMB 20,850 per tonne and RMB 21,050 per tonne. For A356, the average prices are estimated to range between RMB 20,700 per tonne and RMB 21,000 per tonne. For A380 the average prices may orbit between RMB 20,950 per tonne and RMB 21,150 per tonne.

Raw material prices

Among primary aluminium input costs, the aluminium powder price has inched up by RMB 0.1 per kg to settle at RMB 23.1 per kg, with the average prices estimated to range between RMB 23 to RMB 23.2 per kg.

However, the domestic bauxite price has shown steady growth since the beginning of this year. Y-o-Y, the domestic bauxite price has expanded by RMB 50 per tonne from RMB 590 per tonne recorded on July 4 2023. The reason for the steady growth can be attributed to the growing demand for bauxite in the region. According to SMM, the rainy season in Guinea is beginning to have an impact, and subsequent bauxite departures from Guinea may experience some fluctuations.