On August 20th, 2024, the A00 aluminium ingot price in China, as reported by the Shanghai Metal Market (SMM), increased by RMB 30 per tonne, following a significant increase the day before. The price settled at RMB 19,490 per tonne, bringing the month-on-month price to the same level of RMB 19,490 per tonne.

The average price of A00 aluminium ingot is hovering between RMB 19,470 per tonne to RMB 19,510 per tonne, while the spot contract is likely to be traded at a discount price of RMB 100 per tonne to RMB 60 per tonne with an average of RMB 80 per tonne.

The price of low-carbon aluminium has also been improved by RMB 26 per tonne, now standing at RMB 20,355 per tonne. High-purity aluminium (99.99%) and (99.996%) have seen no change from the previous day.

Region-wise analysis:

Aluminium ingot prices have surged across all provinces in China. In Gongyi, Hangzhou, and Tianjin, prices have increased by RMB 30 per tonne, reaching RMB 19,400, RMB 19,490, and RMB 19,440 per tonne, respectively. In Foshan, the average price rises by RMB 20 per tonne to settle at RMB 19,400 per tonne, while in Chongqing and Shenyang, prices have climbed by RMB 40 per tonne, reaching RMB 19,460 per tonne and RMB 19,420 per tonne, respectively. In Foshan and Wuxi, the prices have increased by RMB 20 per tonne to RMB 19,400 per tonne and RMB 19,480 per tonne. The highest price increase occurred in Linyi province, where the price has jumped by RMB 60 per tonne, averaging RMB 19,440 per tonne.

Other prices:

The prices of raw materials like imported and domestic bauxite have remained steady across China despite fluctuations in global markets, but exceptionally, the average alumina price is up by RMB 3 per tonne, bringing the price to RMB 3,907 per tonne. Also, alumina in Shanxi has ascended from the previous day By RMB 10 per tonne to clock at RMB 3,920 per tonne. Again, Australian alumina FOB price increased by US$ 9 per tonne, bringing the price to US$ 521 per tonne.

Aluminium alloy ingot:

The price of aluminium alloys ingot (ADC12) and alloy ingot (A380) have also remained the same with no change in price except for (ADC12) price in the southwest region, where the price has surged by RMB 100 per tonne, now standing at an average of RMB 20,100 per tonne. The average price ranges between RMB 20,000 per tonne and RMB 20,200 per tonne. Aluminium alloy (A356) and alloy (A360) prices escalated by RMB 50 per tonne to settle at RMB 19,950 per tonne and RMB 20,200 per tonne, respectively, expected to range between RMB 19,800 per tonne to RMB 20,100 per tonne and RMB 20,100 per tonne, to RMB 20,300 per tonne.

Market analysis:

This price stabilisation from the previous month might be due to consistent demand from the key sectors.