Alumina price growth in China today leads to further rise in A00 aluminium ingot price

According to Shanghai Metals Market, the average alumina price has recorded a rise today, on April 18, after continually falling for over three months. From the beginning of 2019 until yesterday, the alumina price saw an incessant fall, ranging between RMB 2,934 per tonne and RMB 2,646 per tonne. The price today has grown by RMB 19 per tonne to RMB 2,665 per tonne; therefore, could not beat the price of the same period last month. On March 18, the price was at 2,713 per tonne, up by RMB 48 per tonne.   

In the markets of east, central, and north China, the average alumina price has grown by RMB 20 per tonne to RMB 2,680 per tonne, RMB 2,670 per tonne and RMB 2,660 per tonne, respectively. In the south, the price has increased by RMB 15 per tonne to stand at the same price (RMB 2,660) that in the north. The Australian alumina FOB price, however, continues to dip by US$2 per tonne to US$363 per tonne, found SMM on April 18.

As far as other input costs are concerned, aluminium powder has also recorded a rise today, on April 18, from RMB 17.50 per kg to RMB 17.60 per kg.

In the background of raw materials prices, the A00 aluminium ingot price has neither ceased itself from recording a rise today, found Shanghai Metals Market. Extending the growth by RMB 40 per tonne, the ingot price today has clocked at RMB 14,010 per tonne. This marks the second consecutive rise in aluminium ingot price after two back-to-back drops on April 15 and April 16. The average prices are expected to range between RMB 13,990 per tonne and RMB 14,030 per tonne, with spot discounts to settle at RMB 30 per tonne to RMB 10 per tonne.

In the east (Wuxi, Hangzhou), the A00 aluminium ingot price has grown by RMB 70 per tonne and RMB 65 per tonne to stand at RMB 14,030 per tonne and RMB 14,045 per tonne, while that in the south and north has increased by RMB 60 per tonne and RMB 50 per tonne to RMB 14,030 per tonne and RMB 13,970 per tonne.

With two consecutive growths on April 17 and April 18, the A00 aluminium ingot has reached close to its record-high price of the year RMB 14,020 per tonne on March 22. This indicates that the ingot price is on the way to rebounding after a few intermittent drops.

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