Chinese alumina price expands by RMB19/t and provides further boost to A00 aluminium ingot price

According to Shanghai Metals Market, the spot price of alumina has recorded further expansion today, May 13, from RMB 2,784 per tonne to RMB 2,803 per tonne. This is the second consecutive growth in alumina spot price after remaining restrained from May 6 to May 9 at RMB 2,778 per tonne.

Shanghai Metals Market found that alumina spot price had been growing since mid-April and showed no intermittent downfall. Therefore, compared to the price of RMB 2,646 in the same period last month, the price this month is RMB 157 per tonne higher.

Today, the alumina spot price in the east, central, and north has grown by RMB 20 per tonne to stand at RMB 2,810 per tonne, RMB 2,800 per tonne, and RMB 2,820 per tonne, respectively. In the south, the price has inched up by RMB 10 per tonne to RMB 2,760 per tonne.

On the further growth of alumina spot price, the A00 aluminium ingot price has also registered growth for the second consecutive day by RMB 90 per tonne, found Shanghai Metals Market. The ingot price is thus, hovering at RMB 14,260 per tonne, as of May 13, 2019. The average prices are expected to range between RMB 14,240 per tonne and RMB 14,280 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 40 per tonne.

In Foshan and Tianjin, the aluminium ingot price has increased by RMB 70 per tonne to RMB 14,280 per tonne and RMB 14,230 per tonne, while that in Hangzhou, Shenyang, and Gongyi by RMB 75 per tonne to RMB 14,250 per tonne, RMB 14,270 per tonne, and RMB 14,190 per tonne, respectively. In other cities like Wuxi and Chongqing, the price has expanded by RMB 65 per tonne and RMB 60 per tonne to clock at RMB 14,230 per tonne and RMB 14,260 per tonne.

Among other input costs, aluminium powder price has also recorded growth today by RMB 0.10 per kg to RMB 17.80 per kg. This is also the second consecutive rise in aluminium powder price after it being remained restraint at RMB 17.60 per kg from May 6 to May 9.

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