Alumina price in China begins the month with a decline of RMB55/t, A00 aluminium ingot price drops as well

The average spot price of alumina is found to inaugurate the month of July with a decline of RMB 55 per tonne to RMB 2,786 per tonne, according to Shanghai Metals Market data. This marks the second consecutive fall in alumina spot price, followed by a drop on 28th of June from RMB 2,865 per tonne to RMB 2,841 per tonne.

With the decline today, the average spot price of alumina has recorded a month-on-month fall by RMB 292 per tonne, as the price of alumina on June 3 was at RMB 3078 per tonne. But on a quarterly basis, today’s price is standing higher by RMB 114 per tonne from RMB 2,672 per tonne on April 1, 2019.

As the decline in alumina spot price has touched upon all the major markets in China today, the price in the east is standing at RMB 2,800 per tonne after inching down by RMB 50 per tonne. In the central and north, the price has also witnessed a drop by RMB 50 per tonne to stand at RMB 2,790 per tonne and RMB 2,770 per tonne and in the south by RMB 85 per tonne to RMB 2,810 per tonne.

The Australian alumina FOB price has registered a marginal drop by US$5 per tonne to US$318 per tonne.

The sluggish alumina spot price today has led to the drop in A00 aluminium ingot price as well, found Shanghai Metals Market. The price of aluminium ingot has thus clocked at RMB 13,760 per tonne, marking a fall by RMB 60 per tonne. The average prices are expected to range between RMB 13,740 per tonne and RMB 13,780 per tonne, while spot contract is likely to be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne.

Among all the major cities, Foshan has seen a maximum price drop which is by RMB 80 per tonne. This price there is standing at RMB 13,820 per tonne, learned SMM. In Chongqing, Wuxi, Hangzhou, and Gongyi, the ingot price has dwindled by RMB 60 per tonne, RMB 55 per tonne, and RMB 50 per tonne to come in at RMB 13,780 per tonne, RMB 13,750 per tonne, RMB 13,780 per tonne, and RMB 13,680 per tonne, respectively.

As far as other input costs are concerned, none has started the month with any movement other than the price of aluminium powder which has recorded a drop from RMB 17.40 per kg to RMB 17.30 per kg.

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