China aluminium alloy prices climb higher as A00 ingot become costlier by RMB180/t

Aluminium alloy prices in major markets of China increased by RMB 50 per tonne after A00 aluminium ingot rose higher by RMB 18- per tonne on Tuesday, December 5. The rise in aluminium product prices in the primary and downstream sectors can be attributed to China’s Caixin PMI of service industry which showed 51.9 in November, setting new high since August, Shanghai Metals Market updated.

The previous Caixin PMI of China’s service industry was 51.2. Caixin composite PMI shows 51.6 in November against the earlier figure of 51.

Except Aluminium Alloy (West) price which remains unchanged at RMB 15,550 per tonne, all other categories across markets have increased. As updated by SMM, the average prices and price ranges of aluminium alloys in major China domestic markets are as follows:
                       
The average price of A00 aluminium ingot has increased from RMB 14,230 per tonne on December 4 to RMB 14,410 per tonne on December 5. It is expected to move within the range of RMB 14,390-RMB 14,430 per tonne today, SMM updated.

Further upstream, average alumina spot price has declined by RMB 20 per tonne to stand at RMB 3370 per tonne as on December 5. Bauxite remains unchanged at RMB 410 per tonne as on December 4.

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