Despite a dip, China's A00 aluminium ingot mitigates weekly price trend with RMB30/t growth

SMM

According to the Shanghai Metals Market survey on June 21, A00 aluminium ingot price in China has suffered a loss of RMB 40 per tonne after two consecutive days of rise, settling at RMB 20,410 per tonne at the end of the week.  The average prices are expected to range between RMB 20390-20430 per tonne, with a spot contract to be traded at a discount price of RMB 80-40 per tonne.

Despite a dip, China's A00 aluminium ingot mitigates weekly price trend with RMB30/t growth

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The price of A00 aliminum ingot price has seen a downfall across all the regions of China. In Lin Yi region, the price has dropped mostly by RMB 90 per tonne, amounting to RMB 20360 per tonne. In Foshan, Hang Zhou, Chong Qing, Shen Yang, and Tian Jin, A00 aluminium ingot price has dropped by RMB 40 per tonne to RMB 20,230, 20,410, 20,320, 20,360, and 20,790 per tonne.

China’s low carbon aluminium price has decreased by RMB 59 per tonne to reach at RMB 21,194 per tonne on June 21.

Input costs

China’s domestic bauxite and alumina prices have recorded no change from RMB 630 per tonne and RMB 3,903 per tonne. At the end of the week, alumina price stands lower by RMB 4 per tonne from RMB 3,907 per tonne a week ago.

Conversely, aluminium powder price has dipped by RMB 0.10 per kg to reach RMB 23.1 per kg as of June 21. The average prices are estimated to range between RMB 23-23.2 per kg.

Aluminum alloy prices

Aluminium alloy market has recorded a subtle move at the end of the week, with aluminium alloy (A356) price and aluminium alloy (360) price declined by RMB 50 per tonne to RMB 20,900 and 21,200 per tonne, respectively. The average prices are likely to hover around RMB 20,700-21,100 per tonne and RMB 21,100-21,300 per tonne, respectively.

On the other hand, aluminium alloys (ADC12) price has remained muted at RMB 20,100 per tonne, but edged a W-o-W fall of RMB 100 per tonne from RMB 20,200 per tonne.

Comparative weekly trend

Despite the downfall for three days in a week, A00 aluminium ingot price has closed the week with an increase of RMB 30 per tonne compared to the first day of the week. The ingot price initiated the week at RMB 20380 per tonne on Jun 17, 2024, experiencing a plunge of RMB 180 per tonne from the previous day due to lower demand and increased production. Nevertheless, the price recovered to an extent with two consecutive hikes of RMB 100 per tonne in total to RMB 20,450 per tonne.

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