SMM A00 aluminium ingot price surges by 3.82% M-o-M to reach RMB19570/t today; China’s alumina spot price adds RMB28/t

Today, on December 28, the SMM A00 aluminium ingot price has skyrocketed by RMB 290 per tonne to officially close at RMB 19,570 per tonne. The average prices have ranged between RMB 19,550 per tonne and RMB 19,590 per tonne. 

The SMM aluminium price graph has shown upscale movement after the last fall of RMB 50 per tonne or 0.26 per cent on December 25, when the price halted at RMB 19,070 per tonne, deflecting from the last recorded RMB 19,120 per tonne on December 22. 

A complete analogy of the SMM aluminium price points, Y-o-Y/M-o-M 

On December 28, last year, the SMM aluminium price was RMB 18,970 per tonne, which has escalated by 3.16 per cent or RMB 600 per tonne on a Year-on-Year basis. On a Month-on-Month scale, the SMM aluminium price has soared by RMB 720 per tonne or 3.82 per cent from RMB 18,850 per tonne recorded on November 28. This suggests that the SMM aluminium market has been more stable than last year, with the year’s end closing on an optimistic note. Nevertheless, it has been a very difficult time for the human race with back-to-back outbreaks and war cries, and despite facing strong energy problems, China has emerged once again as one of the leading producers of aluminium in the world. 

China’s eight major provinces 

The eight primary provinces in China have all witnessed augmenting aluminium prices today, with the highest increase of RMB 280 per tonne recorded in Foshan and Hangzhou, where the prices stood at RMB 19,560 per tonne each. In Tianjin, the aluminium price heightened by RMB 260 per tonne to officiate at RMB 19,520 per tonne, followed by RMB 250 per tonne spike in Wuxi, with the aluminium price pegging at RMB 19,550 per tonne. The aluminium prices in Shenyang and Linyi have levitated by RMB 240 per tonne to stop at RMB 19,510 per tonne and RMB 19,570 per tonne, respectively. In Gongyi, the aluminium price ascended by RMB 230 per tonne to rest at RMB 19,450 per tonne. Lastly, in Chongqing, there has been a surge of RMB 110 per tonne in the aluminium price, with it parking at RMB 19,310 per tonne. 

The low-carbon aluminium price in China has jumped by RMB 271 per tonne to officially close at RMB 20,381 per tonne. 

The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have both escalated by RMB 300 per tonne to close at RMB 27,300 per tonne and RMB 28,300 per tonne. 

The constant rise in alumina price 

The alumina spot price in China has been experiencing a steep rise for the last few days, with it hiking by RMB 28 per tonne today to rest at RMB 3,072 per tonne. In Shanxi, the alumina price has increased by RMB 45 per tonne, closing at RMB 3,110 per tonne, while in Shandong, the alumina price has gained RMB 25 per tonne, stopping at RMB 3,015 per tonne. In Henan and Guangxi, the alumina prices have soared by RMB 20 per tonne to officiate at RMB 3,080 per tonne and RMB 3,065 per tonne. In Guizhou, the alumina price has added RMB 5 per tonne, halting at RMB 3,055 per tonne. 

A recent fuel depot blast in Guinea can be responsible for the sudden hike in alumina spot prices in China, as the dragon sources most of its bauxite import from this mining heaven in West Africa. China has mining activities spread throughout Shanxi, Guizhou and Henan, but it imports higher-quality bauxite ore in large quantities from Africa. 

Overall price influxes in the region

The aluminium alloy (A356) price has gained RMB 300 per tonne to close at RMB 20,250 per tonne, while the aluminium alloy (A360) price floated RMB 250 per ton upward to RMB 20,450 per tonne. The aluminium alloys (ADC12) price has seen an influx of RMB 200 per tonne, closing at RMB 20,300 per tonne. 

The aluminium powder price has scored RMB 0.30 per kg, closing at RMB 22.20 per kg, with average prices circulating between RMB 22.10 per kg and RMB 22.30 per kg.