Average alumina spot price shoots up today by RMB18/t, while A00 aluminium ingot price records another drop

The average alumina spot price continues to expand in China amidst the limited production at refineries and weak supplies in the market. Today, on February 27, the alumina price has grown by RMB 18 per tonne to stand at RMB 2,543 per tonne, according to Shanghai Metals Market. With the continued rise, the alumina price over the month has increased by RMB 89 per cent, in contrast to the escalation of RMB 17 per tonne in the month earlier.

In the north, the average alumina spot price has grown by RMB 20 per tonne to RMB 2,560 per tonne, followed by the east and central, where the price has jumped by RMB 15 per tonne to RMB 2,540 per tonne and RMB 2,545 per tonne, respectively. In the south, however, the price has remained restrained at RMB 2,520 per tonne.

But while the alumina price in the spot market is continuing to increase, the A00 aluminium ingot price is recording drops with intermittent rise and restraint. Shanghai Metals Market found the A00 aluminium ingot price has dipped by RMB 40 per tonne to RMB 13,390 per tonne, followed after the growth of RMB 20 per tonne to RMB 13,430 per tonne. The average prices are expected to range between RMB 13,370 per tonne and RMB 13,410 per tonne, with spot contract to be traded at a discount price of RMB 60 per tonne to RMB 20 per tonne.

Hangzhou has seen the highest growth of RMB 80 per tonne. In Wuxi and Gongyi, the ingot price has increased by RMB 70 per tonne and that in Shenyang, Linyi, Foshan, and Chongqing has climbed by RMB 60 per tonne and RMB 50 per tonne, respectively.

On the drop in A00 aluminium ingot price, the price of aluminium alloys (ADC12) has also registered a fall of 50 per tonne to RMB 14.950 per tonne, as of Thursday, February 27, learned SMM. In the east and south as well, the aluminium alloys (ADC12) price has declined by RMB 50 per tonne, while that in the west has remained restrained.

The prices of aluminium alloy (A356) and aluminium alloy (A380) have shown no change from RMB 14,100 per tonne and RMB 15,900 per tonne, respectively.

source https://www.alcircle.com/news/average-alumina-spot-price-shoots-up-today-by-rmb18t-while-a00-aluminium-ingot-price-records-another-drop-52173