China’s alumina spot price falls throughout the week by RMB29/t; Aluminium ingot price settles higher at RMB18820/t

According to the Shanghai Metals Market, the average alumina spot price in China has dwindled for the fifth day in a row by RMB 9 per tonne to close the week at RMB 2,814 per tonne on Friday, June 16. After declining throughout the week, the alumina spot price records a W-o-W fall of 1.02 per cent or RMB 29 per tonne from RMB 2,843 per tonne.

In Shandong and Henan, alumina price has decreased by RMB 15 per tonne and RMB 10 per tonne, respectively, to settle at RMB 2,780 per tonne and RMB 2,875 per tonne, while the price in Shanxi and Guizhou has dipped by RMB 5 per tonne to stand at RMB 2,800 per tonne and RMB 2,815 per tonne.

Nonetheless, despite the further decrease of alumina spot price, A00 aluminium ingot price has climbed up by RMB 290 per tonne on Friday, June 16, reaching RMB 18,820 per tonne. The surge followed a drop of RMB 50 per tonne on June 15 from RMB 18,580 per tonne to RMB 18,530 per tonne. The average prices are estimated to range between RMB 18,800 per tonne and RMB 18,840 per tonne, with a spot contract to trade at a premium price of RMB 280-320 per tonne.

In Gongyi, primary aluminium ingot price has escalated by RMB 300 per tonne to stand at RMB 18,710 per tonne, followed by a rise of RMB 290 per tonne in Wuxi to RMB 18,850 per tonne. In Chongqing and Shenyang, A00 aluminium ingot price has expanded by RMB 270 per tonne to peg at RMB 18,800 per tonne and RMB 18,770 per tonne, and that in Hangzhou has increased by RMB 260 per tonne to RMB 18,820 per tonne. In Tianjin and Linyi, the ingot price has gained RMB 240 per tonne to close the week at RMB 18,770 per tonne.

In response to the rise of primary aluminium ingot prices, aluminium alloy prices have also expanded. Aluminium alloy (A356) price has registered a significant growth of RMB 300 per tonne to RMB 19,500 per tonne. The average prices are likely to range between RMB 19,300 per tonne and RMB 19,700 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have gained RMB 100 per tonne, each, to rest at RMB 18,600 per tonne and RMB 19,600 per tonne, as of Friday, June 16.