China’s domestic A00 aluminium ingot price has descended for the fourth day in a row by RMB 130 per tonne against the backdrop of subdued manufacturing activity growth in the country. According to SMM, China’s A00 aluminium ingot price has come in at RMB 20,660 per tonne, bringing the price 2.5 per cent lower week-on-week than RMB 21,190 per tonne, but remains higher than a month by 1.13 per cent compared to RMB 20,430 per tonne. The average prices are expected to range between RMB 20,640 per tonne and RMB 20,680 per tonne, with spot contract to be traded at a discount price of RMB 30-10 per tonne.
In Tianjin, A00 aluminium ingot price has shrunk by RMB 150 per tonne on June 13, closing at RMB 20,740 per tonne, followed by a downfall of RMB 140 per tonne in Wuxi to RMB 20,660 per tonne. In Foshan and Shenyang, A00 aluminium ingot price has dwindled by RMB 130 per tonne to reach RMB 20,520 per tonne and RMB 20,610 per tonne, while the price in Hangzhou and Linyi has slipped by RMB 110 per tonne to RMB 20,680 per tonne and RMB 20,740 per tonne, respectively.
China’s domestic low-carbon aluminium price has also plunged by RMB 164 per tonne to stand at RMB 21,485 per tonne as of June 13.
Raw material prices
In contrast, the average alumina spot price has inched by RMB 1 per tonne on June 13 to stand at RMB 3,907 per tonne. On a week-on-week calculation, the price has increased by RMB 2 per tonne, indicating a steady demand across the market.
In Shandong, the domestic alumina price has elevated by RMB 5 per tonne, with average prices likely to hover around RMB 3,860 per tonne-3,930 per tonne.
The Australian alumina FOB price has also witnessed an increase overnight, gaining US$5 per tonne to US$510 per tonne. On a week-on-week basis, the price has recorded a growth of 5.59 per cent from US$483 per tonne.
Among other input costs, aluminium powder price, on the other hand, has suffered a loss of RMB 0.10 per kg to settle at RMB 23.4 per kg. The average prices are estimated to range between RMB 23.3-23.5 per kg.
Aluminium alloy prices
According to SMM, aluminium alloy prices have unanimously decreased by RMB 100 per tonne across the major Chinese consumption areas. While the decline has brought the aluminium alloys (ADC12) price at RMB 20,300 per tonne, with average prices ranging between RMB20,200-20,400 per tonne, the phenomenon has brought the aluminium alloy (A356) price and aluminium alloy (A380) price to RMB 21,150 per tonne and RMB 21,300 per tonne.
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