The average alumina spot price in China has shown a remarkable price surge amidst limited bauxite supply, which is crucial for domestic refineries. As of October 29, the price has surged by RMB 50 per tonne to settle at RMB 4,950 per tonne, reflecting a 3.99 per cent W-o-W growth.
However, if the momentum is sustained, it is anticipated that by this week, the alumina price may reach the RMB 5,000 mark. Also, heightened optimism around raw material purchases, driven by increased primary aluminium production, has fuelled the alumina price rally. Industry sources anticipate that this upward momentum will likely continue in the coming months.
Alumina price by region
Today, the price hike in China’s domestic alumina has affected all the major provinces, including Shanxi and Shandong, where the price has expanded by RMB 50 per tonne to dock at RMB 5,000 per tonne and RMB 4,975 per tonne. In Henan, the price has arrived at RMB 4,950 per tonne after witnessing a rise of RMB 50 per tonne. In Guizhou also the price has experienced the same hike to settle at RMB 4,875 per tonne. In Guangxi, the price has surged by RMB 75 per tonne to arrive at RMB 4,875 per tonne, followed by an expansion of RMB 100 per tonne in Lianyungang and Bayuquan to halt at RMB 4,500 per tonne.
A00 aluminium price
Following a growth the previous day, the price of A00 aluminium ingot in China has lost RMB 140 per tonne to halt at RMB 20,800 per tonne, with the average prices estimated to stand between RMB 20,780 per tonne and RMB 20,820 per tonne. The spot contract price may be traded at a premium price of RMB 10 to RMB 50 per tonne.
The price of domestic aluminium ingot has fallen in all the major provinces, with the highest in Gongyi, where it has declined by RMB 150 per tonne to dock at RMB 20,750 per tonne, followed by a descent of RMB 140 per tonne in Foshan and Wuxi to settle at RMB 20,800 per tonne. In other regions like Linyi, Shenyang and Foshan, the prices have dwindled by RMB 140 per tonne to peg at RMB 20,800 per tonne, RMB 20,730 per tonne and RMB 20,640 per tonne. In Chongqing and Tianjin, the domestic aluminium ingot price has decreased by RMB 110 per tonne and RMB 120 per tonne to reach RMB 20,750 per tonne and RMB 20,840 per tonne.
Other prices
The domestic price of low carbon aluminium has contracted by RMB 148 per tonne to halt at RMB 21,176 per tonne. The price of high-purity aluminium (99.99%) and high-purity aluminium (99.996%) has lost RMB 100 per tonne to settle at RMB 27,800 per tonne and RMB 28,800 per tonne. As per the SMM data, the price of aluminium alloy (A356) has dropped by RMB 150 per tonne to score at RMB 21,250 per tonne, with the average prices expected to range between RMB 21,100 per tonne and RMB 21,400 per tonne.
Image source: Zhengzhou Xinli Wear-Resistant Material
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