A00 aluminium price in China has declined by RMB 160 per tonne on Friday, May 13, to settle at RMB 20,110 per tonne, according to the data collected from the Shanghai Metals Market. The average aluminium prices are expected to range between RMB 20,090 per tonne and RMB 20,130 per tonne, while spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne.
On Friday, the aluminium ingot price has declined nationwide in China. In Wuxi, the price has plunged by RMB 170 per tonne to stop at RMB 20,100 per tonne, and in Hangzhou, it has decreased by RMB 160 per tonne coming in at RMB 20,160 per tonne. In both the Chinese provinces, Gongyi and Shenyang, the aluminium ingot price has fallen by RMB 160 per tonne to halt at RMB 20,090 per tonne, while in Fo shan dropped by RMB 220 per tonne, buyable at RMB 20,120 per tonne. Premium aluminium ingot price in Lin Yi has also slumped by RMB 140 per tonne resulting in RMB 20,230 per tonne, whereas aluminium ingot price in Tianjin has tumbled down to RMB 20,060 per tonne, losing RMB 19 per tonne. Lastly, in Chongqing, the aluminium ingot price has resulted in RMB 20,120 per tonne, experiencing RMB 180 per tonne cut.
In China, the domestic price of low-carbon aluminium has also plummeted by RMB 220 per tonne to stand at RMB 20,723 per tonne as of 13th of May.
The prices of high purity aluminium (99.99%) and high purity aluminium (99.996%) have shrunk by RMB 100 per tonne, stopping at RMB 28,100 per tonne and RMB 29,100 per tonne, respectively.
Due to the degrading prices of aluminium ingots, the price of aluminium alloy (A356) has also failed to rise, recording RMB 21,300 per tonne, with RMB 150 per tonne deduction. The average prices are estimated to range between RMB 21,200 per tonne and RMB 21,400 per tonne. The aluminium alloys, ADC12 and A380 have shown no change in price on Friday, May 13.
Among input costs, the price of caustic soda (32% concentration) in Shandong has improved by RMB 5 per tonne, closing at RMB 1,235 per tonne, with average prices likely to range between RMB 1,170 per tonne and RMB 1,300 per tonne.
The Australian Alumina FOB price has dropped by US$2 per tonne to total US$365 per tonne. The price of aluminium powder has settled at RMB 21.9 per kg, seeing a fall of RMB 0.20 per kg.
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