China’s alumina spot price marks M-o-M hike of RMB25/t on Sept 19; Low-carbon aluminium recovers RMB108/t

The average alumina spot price has continued to grow for the second day in a week, dating September 19, by RMB 2 per tonne to settle at RMB 2,937 per tonne, found the Shanghai Metals Market survey. In the past two days, the price has increased by RMB 4 per tonne, marking a month-on-month hike of RMB 25 per tonne or 0.86 per cent from RMB 2,912 per tonne.

In Shanxi, the average alumina price has climbed by RMB 5 per tonne to peg at RMB 2,950 per tonne, while in other Chinese provinces, it has remained muted.

The Australian alumina FOB price has remained restrained at US$342 per tonne since September 6.

A00 aluminium ingot price has also registered a rise on September 19, following a drop of RMB 160 per tonne on the previous day. On Tuesday, September 19, the Chinese primary aluminium ingot price has gained RMB 130 per tonne, coming in at RMB 19,510 per tonne. The average prices are estimated to range between RMB 19,490 per tonne and RMB 19,530 per tonne, with a spot contract to be traded at a premium price of RMB 210-250 per tonne.

In Wuxi, A00 aluminium ingot price has jumped by RMB 140 per tonne to RMB 19,520 per tonne, while the price in Gongyi and Hangzhou has escalated by RMB 130 per tonne to settle at RMB 19,410 per tonne and RMB 19,510 per tonne, respectively. In Shenyang, Tianjin, and Linyi, the primary aluminium ingot price has also elevated by RMB 130 per tonne to RMB 19,450 per tonne, RMB 19,540 per tonne, and RMB 19,510 per tonne, while that in Foshan has increased by RMB 110 per tonne to RMB 19,270 per tonne.

The domestic low-carbon aluminium price has recovered RMB 108 per tonne on September 19, following the previous day’s loss to exceed RMB 20,000 per tonne. According to SMM data, China’s domestic low-carbon aluminium price stands at RMB 20,046 per tonne as of September 19.

In line with the price uptrend across China on September 19, the aluminium alloy (A356) price has recorded a rise of RMB 150 per tonne to stand at RMB 20,150 per tonne. The average prices are estimated to range between RMB 20,000 per tonne and RMB 20,300 per tonne, learned SMM.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have grown by RMB 50 per tonne to close at RMB 19,650 per tonne and RMB 20,650 per tonne, respectively, as of September 19.