China’s alumina price continues to grow at 1.19%; Prebaked anode price falls on Weiqiao’s purchasing price cut for May

The average alumina spot price has continued to grow, but slower than the previous day, according to Shanghai Metals Market. On Friday, April 30, the price has increased by RMB 26 per tonne or at 1.19 per cent growth rate to stand at RMB 2,209 per tonne, compared to the growth of RMB 40 per tonne on Thursday, April 29, as per the SMM data.

In the north, the price has seen the highest growth of RMB 40 per tonne to come in at RMB 2,225 per tonne, as of April 30, followed by East and Central, where the average alumina spot price has grown by RMB 25 per tonne and RMB 20 per tonne to hover at RMB 2,200 per tonne. In the south, however, the price has remained restrained at RMB 2,520 per tonne.

The imported alumina price has also registered a growth today after remaining restrained at RMB 2,100 per tonne on April 29. As of April 30, the price has come in at RMB 2,170 per tonne after rising by RMB 70 per tonne. The average prices are expected to range between RMB 2160 per tonne and RMB 2,180 per tonne.

The Australian alumina FOB price has decided to remain restrained today after climbing US$ 15 per tonne to US$ 242 per tonne on Thursday, April 29.

Among other aluminium raw materials, the prebaked anode has also recorded a change in its price, but a steep decline of RMB 130 per tonne to RMB 2,700 per tonne, as of Friday, April 30, learned SMM. The average prices are expected to range between RMB 2,530 per tonne and RMB 2,870 per tonne.

Shandong Weiqiao Group’s benchmark prebaked anode purchasing price cut for May could be attributed to the decline in average Chinese prebaked anode price. Shandong Weiqiao has lowered its prebaked anode price by RMB 130 per tonne. Hence, the price for May is now at RMB 2,530 per tonne in cash. This marks a second straight month for Weiqiao to cut its prebaked anode purchasing prices, following a cut of RMB 170 per tonne for April.

However, backed on alumina’s price growth and increase in demand, the A00 aluminium ingot price has extended its growth, although slower than the previous day. Today, on April 30, the aluminium ingot has increased by RMB 10 per tonne to stand at RMB 12,800 per tonne. The average prices are expected to range between RMB 12,780 per tonne and RMB 12,820 per tonne, with spot contract to be traded at a premium price of RMB 50-90 per tonne.

Among the major Chinese provinces, Tianjin has seen the highest growth in aluminium ingot price today of about RMB 50 per tonne. In other provinces like Shenyang, Wuxi, and Gongyi, the price has increased by RMB 30 per tonne and RMB 20 per tonne. In Foshan, however, the price has dropped today by RMB 10 per tonne.

source https://www.alcircle.com/news/chinas-alumina-price-continues-to-grow-at-1-19-prebaked-anode-price-falls-on-weiqiaos-purchasing-price-cut-for-may-54673