Alumina spot price in China dips by RMB2/t to RMB2987/t; A00 aluminium ingot price inches up by RMB10/t

China's average alumina spot price has continued to fall for the second day in a row, although at a lower rate than the previous day. According to the Shanghai Metals Market data, the price has dipped by RMB 2 per tonne to stand at RMB 2,987 per tonne on Tuesday, May 31.

In Guizhou and Guangxi, alumina spot price has decreased by RMB 15 per tonne and RMB 10 per tonne, respectively, to come in at RMB 3,010 per tonne and RMB 2,990 per tonne, found SMM. However, the price in Shandong, Henan, and Shanxi has remained muted at RMB 3,005 per tonne, RMB 3,060 per tonne and RMB 2,905 per tonne, respectively.

The Australian alumina FOB price has also recorded no change from US$356 per tonne since May 26.

A00 aluminium ingot price has inched up by RMB 10 per tonne, following a decline of RMB 50 per tonne on the previous day. That has brought the primary aluminium ingot price to RMB 20,760 per tonne as of May 31, learned SMM. The average prices are expected to range between RMB 20,740 per tonne and RMB 20,780 per tonne, with spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne.

But not all Chinese provinces have witnessed an increase in the primary aluminium ingot price. Except for Linyi, Tianjin, Shenyang, and Foshan, A00 aluminium ingot price have remained restrained in many provinces. In Linyi and Tianjin, the ingot price has increased by RMB 30 per tonne and RMB 20 per tonne to RMB 20,830 per tonne and RMB 20,720 per tonne, while the price in Shenyang and Foshan has gained RMB 10 per tonne to rest at RMB 20,730 per tonne and RMB 20,740 per tonne.

Aluminium alloys prices, on the other hand, have registered decline on May 31, 2022. Both aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 50 per tonne to stand at RMB 20,800 per tonne and RMB 21,800 per tonne. The average prices of the former are estimated to range between RMB 20,700-20,900 per tonne, while that of the latter are likely to hover around RMB21,700-21,900 per tonne.

However, Aluminium alloy (A356) price has recorded no change from RMB 21,900 per tonne, found SMM.

source https://www.alcircle.com/press-release/alumina-spot-price-in-china-dips-by-rmb2-t-to-rmb2987-t-a00-aluminium-ingot-price-inches-up-by-rmb10-t-80564