China’s A00 aluminium ingot price leaps RMB170/t to touch RMB19000/t level after over 2 months

According to the Shanghai Metals Market (SMM), China's domestic A00 aluminium ingot price has skyrocketed by RMB 170 per tonne to exceed RMB 19,000 per tonne after over two months. From RMB 18,860 per tonne on April 18, the price leapt to RMB 19,030 per tonne on April 19, close to the price on February 8 when the Chinese domestic primary aluminium ingot price stood at RMB 19,060 per tonne. That was the last time when the ingot price stood at the level of RMB 19,000 per tonne.

Today, the average prices are estimated to range between RMB 19,010 per tonne and RMB 19,050 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne, up by RMB 20 per tonne from the previous day.

In Chongqing, Tianjin, and Linyi, A00 aluminium ingot price has also climbed RMB 170 per tonne to peg at RMB 19,080 per tonne, RMB 19,010 per tonne, and RMB 19,030 per tonne, respectively, followed by the hike of RMB 160 per tonne in Foshan to RMB 19,130 per tonne. In Gongyi, Wuxi, and Hangzhou, A00 aluminium ingot price has elevated by RMB 150 per tonne to settle at 18,900 per tonne, RMB 19,030 per tonne, and RMB 19,050 per tonne.

The domestic price of low-carbon aluminium has experienced an increase of RMB 160 per tonne to a total of RMB 19,712 per tonne as of April 19.

In line with the rise of A00 aluminium ingot price, aluminium alloy (A356) price has heightened by RMB 150 per tonne to reach RMB 19,900 per tonne on April 19. The average prices are likely to range between RMB 19,700 per tonne and RMB 20,100 per tonne.

On the other hand, aluminium alloys (ADC12) price and aluminium alloy (A380) price have grown by RMB 100 per tonne to rest at RMB 19,400 per tonne and RMB 20,400 per tonne, respectively.

Among primary aluminium input costs, aluminium powder price has inched up by RMB 0.20 per kg to settle at RMB 21 per kg. The average prices are expected to hover around RMB 20.9 per kg and RMB 21.1 per kg, found SMM.