A00 aluminium ingot price nosedives by RMB260/t; Australian FOB price shrinks to US$508/t

The A00 aluminium ingot price on Wednesday, March 30 has nosedived by RMB 260 per tonne, following a hike in price on Tuesday, March 29. According to SMM, the price has been recorded at RMB 22,730 per tonne as of today, with average price estimated to orbit between RMB 22,710 per tonne and RMB 22,750 per tonne, and spot contract to be traded at a premium rate of RMB 90-50 per tonne. 

As per the SMM data, the price in Wuxi and Shenyang has slipped by RMB 240 per tonne to total at RMB 22,730 per tonne and RMB 22,680 per tonne. The A00 aluminium ingot price in Gongyi and Foshan has slumped by RMB 230 per tonne and RMB 260 per tonne, to score at RMB 22,620 per tonne and RMB 22,750 per tonne. In Hangzhou and Chongqing the price has plummeted by RMB 245 per tonne and RMB 210 per tonne to peg at RMB 22,735 per tonne and RMB 22,690 per tonne. In Tianjin and Linyi, the price has dipped by RMB 160 per tonne and RMB 180 per tonne to close at RMB 22,780 per tonne and RMB 22,810 per tonne.

The Australian FOB price has gone down by US$17 per tonne to record at US$508 per tonne. For the same day, the aluminium powder price has inched down by RMB 0.3 per kg to settle at RMB 24.4 per kg.

The aluminium alloy (ADC12) price and (A380) price has gone down by RMB 100 per tonne to record at RMB 22,300 per tonne and RMB 23,300 per tonne. The average price for (ADC12) is likely to hover between RMB 22,200 per tonne and RMB 22,400 per tonne.  For (A380) the average price is estimated to orbit between RMB 23,200 per tonne and RMB 23,400 per tonne.

The aluminium alloy (A356) price has nosedived by RMB 150 per tonne to close at RMB 24,250 per tonne. The average price for the same is expected to range between RMB 24,100 per tonne and RMB 24,400 per tonne.