Week-long alumina price restraint ends with a growth of RMB22/t; A00 aluminium ingot price declines significantly

After remaining restrained at RMB 2,547 per tonne from September 6-12, the average spot price of alumina has recorded a growth of RMB 22 per tonne today, on September 16, to stand at RMB 2,569 per tonne, found Shanghai Metals Market.

Witnessing the highest rise the alumina spot price in the north has grown by RMB 30 per tonne to RMB 2,590 per tonne. In the east and central, the price has increased by RMB 20 per tonne, on the other hand, to stand at RMB 2,570 per tonne, while that in the south is standing at RMB 2,510 per tonne after climbing up by RMB 5 per tonne.

The Australian alumina FOB price has remained muted at US$ 293 per tonne since September 11, according to Shanghai Metals Market data.

Among the other input costs, the price of aluminium powder has recorded a decline by RMB 0.10 per kg to stand at RMB 18 per kg.

The A00 aluminium ingot price has also inched down significantly by RMB 150 per tonne to RMB 14,400 per tonne. The average price is expected to range between RMB 14,380 per tonne and RMB 14,420 per tonne, with spot contract to be traded at a premium price of RMB 60 per tonne to a discount price of RMB 20 per tonne.

The rise in A00 aluminium ingot price could be attributed to the growth in primary aluminium stocks by around 6,000 tonnes over the weekend to 978,000 tonnes. Also, the producers are keeping their offerings low, given the fact of lower demand and consumption of primary aluminium in the domestic market.

The A00 aluminium ingot price in Gongyi has decreased by RMB 180 per tonne to RMB 14,260 per tonne, while that in Chongqing and Hangzhou has declined by RMB 155 per tonne and RMB 150 per tonne to RMB 14,415 per tonne and RMB 14,410 per tonne. Other cities like Tianjin, Linyi, and Shenyang have seen a price drop of RMB 140 per tonne, RMB 130 per tonne, and RMB 125 per tonne to RMB 14,380 per tonne, RMB 14,400 per tonne, and RMB 14,390 per tonne, respectively.