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07 JULY 2023 SMM

China’s A00 aluminium price marks four days of steep fall losing RMB70/t today; Alumina price sheds RMB2/t

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

The Shanghai Metal Market, today, on July 7, has recorded an RMB 70 per tonne slump in China’s aluminium spot price, with it officially resting at RMB 18,210 per tonne, with average prices hovering between RMB 18,190 per tonne and RMB 18,230 per tonne.

China’s A00 aluminium price marks four days of steep fall losing RMB70/t today; Alumina price sheds RMB2/t

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The highest bid price recorded this year was on April 20, when the aluminium spot price stood at RMB 19,110 per tonne. The beginning of July, though, suggested an upward trend; aluminium prices began to fall gradually from July 4.

The eight central provinces in China have all seen de-escalating prices today, with the aluminium spot price plunging the highest in Foshan and Chongqing by RMB 120 per tonne to ultimately close at RMB 18,360 per tonne and RMB 18,240 per tonne, respectively. In Hangzhou, the aluminium price has fallen by RMB 80 per tonne to finally rest at RMB 18,200 per tonne. The prices of aluminium in Wuxi and Shenyang have both shed RMB 70 per tonne to halt at RMB 18,210 per tonne and RMB 18,150 per tonne. The price of aluminium in Linyi has decreased by RMB 40 per tonne to stop at RMB 18,160 per tonne. In Gongyi and Tianjin, the aluminium spot prices have lost RMB 30 per tonne to officially close at RMB 18,090 per tonne and RMB 18,260 per tonne.

The price of low-carbon aluminium has plummeted by RMB 130 per tonne to close at RMB 18,974 per tonne.

The price of high-purity aluminium (99.99%) and the price of high-purity aluminium (99.996%) have both downsized by RMB 100 per tonne, officially halting at RMB 25,700 per tonne and RMB 26,700 per tonne.

The average alumina spot price in China has dropped RMB 2 per tonne, closing at RMB 2,822 per tonne, followed by a slump of RMB 10 per tonne in Guangxi, where the alumina spot price stood at RMB 2,810 per tonne.

The price of aluminium alloy (A356) has lowered by RMB 50 per tonne to clock at RMB 18,950 per tonne, while the price of aluminium alloy (A360) has dived by RMB 100 per tonne, anchoring at RMB 19,300 per tonne.

Outlook 2023

The aluminium powder price in China has lost RMB 0.10 per kg, resting at RMB 20 per kg, with average prices ranging between RMB 19.90 per kg and RMB 20.10 per kg.


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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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