A00 aluminium ingot price in China falls by RMB110/t W-o-W on Feb 17; Low carbon aluminium price moves up to RMB 19,046/t

On Friday, February 17, China’s A00 aluminium ingot price gained RMB 30 per tonne to stand at RMB 18,460 per tonne. However, on a W-o-W calculation, the aluminium ingot price has plunged by RMB 110 per tonne from RMB 18,570 per tonne recorded on February 10. The spot contract price as of today is expected to be traded at a discount price of RMB 90 per tonne to RMB 50 per tonne. The average prices will likely range between RMB 18,440 per tonne and RMB 18,480 per tonne.

The price in Chongqing and Shenyang has grown by RMB 50 per tonne and RMB 40 per tonne, to stop at RMB 18,510 per tonne and RMB 18,490 per tonne. In Wuxi, the A00 aluminium ingot price has moved up by RMB 35 per tonne to score at RMB 18,455 per tonne. On the same day, the prices in Gongyi, Foshan and Tianjin increased by RMB 30 per tonne to peg at RMB 18,380 per tonne, RMB 18,460 per tonne and RMB 18,510 per tonne. Hangzhou and Linyi have also witnessed the same price cut to halt at RMB 18,460 per tonne and RMB 18,510 per tonne.

The domestic price of low carbon aluminium has ascended by RMB 33 per tonne to settle at RMB 19,046 per tonne. Among primary aluminium input costs, the average alumina spot price has remained restrained at RMB 2,946. As per the data, the prices in all the major provinces have shown no change, like in Shandong the price has shown no change to close at RMB 2,920, followed by Henan where the price stopped at RMB 2,995.

The aluminium alloy prices have shown no change across China since Friday, February 10. While the aluminium alloys (ADC12) price has remained restrained at RMB 19,650 per tonne, aluminium alloy (A356) price and aluminium alloy (A380) price are continuing at RMB 19,600 per tonne and RMB 20,650 per tonne, learned SMM.