China’s alumina price accumulates RMB11/t in two days; A00 aluminium ingot price loses RMB250/t W-o-W

According to the Shanghai Metals Market survey, China’s average alumina spot price has increased for the second day in a row by RMB 5 per tonne to reach RMB 3,932 per tonne as of Tuesday, September 3. In two days, the price has accumulated RMB 11 per tonne, marking a week-on-week increase of RMB 16 per tonne from RMB 3,916 per tonne.

Alumina price overview & analysis

In Shandong and Henan, alumina price has increased by RMB 10 per tonne, marking the second consecutive day of rise. The prices in Shandong and Henan have amassed a total of RMB 20 per tonne in two days to settle at RMB 3,925 per tonne and RMB 3,915 per tonne on September 3. The average prices are estimated to range between RMB 3,880-3,970 per tonne and RMB 3,850-3,980 per tonne, respectively.

In contrast, alumina prices in Shanxi, Guizhou, and Guangxi have recorded restraints at RMB 3,945 per tonne, RMB 3,935 per tonne, and RMB 3,955 per tonne, respectively. The Australian alumina FOB price has also remained unchanged at US$521 per tonne since August 20.

Year-to-date, the average alumina spot price has gained RMB 778 per tonne. The maximum growth was recorded from April 23 to May 28 by RMB 603 per tonne. In the subsequent period, the price was range-bound until it started escalating on August 28. The price rally of China’s domestic alumina since the beginning of 2024 could be attributed to supply constraints due to operational halts at refineries for maintenance, coupled with the Indonesian bauxite export ban from June 10, 2023. Amid all this, the unprecedented rise in China’s domestic primary alumina production pushed the ore prices up.

A00 aluminium ingot price

On Tuesday, September 3, China’s A00 aluminium ingot price has increased by RMB 30 per tonne, following a significant loss of RMB170 per tonne on the previous day. Over a week, China’s A00 aluminium ingot price has seen a few intermittent growths, yet fallen by RMB 250 per tonne from RMB 19,740 per tonne to RMB 19,490 per tonne.

Today, the average prices of primary aluminium are estimated to range between RMB 19,470 per tonne and RMB 19,510 per tonne, with a spot contract to be traded at a discount price of RMB 80-40 per tonne.

In Gongyi and Hangzhou, A00 aluminium ingot price has expanded by RMB 50 per tonne to RMB 19,460 per tonne and RMB 19,510 per tonne, while the prices in Wuxi, Shenyang, and Chongqing have escalated by RMB 40 per tonne to RMB 35 per tonne, RMB 30 per tonne to RMB 19,500 per tonne, RMB 19,445 per tonne, and RMB 19,460 per tonne, respectively.

China’s domestic low-carbon aluminium price has increased by RMB 21 per tonne to reach RMB 20,331 per tonne on September 3.

Other input costs

On September 3, the imported bauxite price has dipped by US$0.01 per tonne to stand at US$76.12 per tonne, following two consecutive days of increase from US$76.11 per tonne to US$76.13 per tonne.

Note: We are pleased to announce that the AL Circle website now includes CME (Futures) aluminium prices in addition to the previously available LME and SHFE aluminium prices. We invite you to explore this expanded offering in our price section for the most comprehensive and up-to-date aluminium pricing information.