On Wednesday, May 31, China’s A00 aluminium ingot price has dropped by RMB 70 per tonne to close at RMB 18,280 per tonne, with the average prices estimated to range between RMB 18,260 per tonne and RMB 18,300 per tonne. The spot contract price is expected to be traded at a premium price of RMB 40 to RMB 80 per tonne.
As per the SMM data, the prices in Gongyi and Wuxi have fallen by RMB 80 per tonne to score at RMB 18,120 per tonne and RMB 18,250 per tonne. On the same day, the price in Hangzhou slumped by RMB 70 per tonne to stand at RMB 18,280 per tonne, followed by a drop of RMB 20 per tonne in Foshan to peg at RMB 18,350 per tonne. The A00 aluminium ingot prices in Shenyang and Linyi have dipped by RMB 10 per tonne to halt at RMB 18,400 per tonne, followed by Tianjin, where the price has recorded the same drop to stop at RMB 18,350 per tonne.
The domestic price of low carbon aluminium has descended by RMB 20 per tonne to peg at RMB 18,943 per tonne. The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have plunged by RMB 100 per tonne to settle at RMB 26,000 per tonne and RMB 27,000 per tonne.
The average alumina spot price in China has inched down by RMB 1 per tonne to come in at RMB 2,851 per tonne. The price in Shanxi has slipped by RMB 5 per tonne to come in at RMB 2,840 per tonne.
The aluminium alloy (A356) price has dwindled by RMB 100 per tonne to score at RMB 19,050 per tonne, with average prices between RMB 18,900 per tonne and RMB 19,200 per tonne. On the same day, aluminium alloys (ADC12) price and aluminium alloy (A380) price decreased by RMB 50 per tonne to peg at RMB 18,550 per tonne and RMB 19,550 per tonne.
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For (ADC12) the average prices are expected to orbit between RMB 18,450 per tonne and RMB 18,650 per tonne. For (A380) the average prices may range between RMB 19,450 per tonne and RMB 19,650 per tonne.
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