Alumina spot price declines by RMB25/t but A00 aluminium ingot price rises by RMB80/t on improved spot transaction

The average spot price of alumina has further recorded a decline across China by RMB 25 per tonne to stand at RMB 2,582 per tonne, found Shanghai Metals Market.  The domestic price since the beginning of the month has been displaying a sluggish sentiment on increasing demand for imported alumina, ranging between RMB 2,786 per tonne and RMB 2,582 per tonne.

The price in the east and north has dipped by RMB 30 per tonne to RMB 2,590 per tonne and RMB 2,570 per tonne, while that in the central and south has inched down by RMB 20 per tonne and RMB 25 per tonne to stand at RMB 2,590 per tonne.

The Australian alumina FOB price, however, has not recorded any change as of today, July 15, from US$310 per tonne. But the overall trend of the Australian alumina FOB price since the beginning of the month is bearish, ranging between US$318 per tonne and US$310 per tonne. The price has been either showing restraint or registering drop throughout the month.

The price of A00 aluminium ingot, on the other hand, has risen from RMB 13,720 per tonne to RMB 13,800 per tonne, as of today, July 15, despite the alumina price drop and rise in inventory over the weekend by 1,000 tonne. Improved spot aluminium trading among downstream consumers has primarily bolstered the A00 aluminium ingot price hike. The average prices are expected to range between RMB 13,780 per tonne and RMB 13,820 per tonne, with spot contract to be traded at a discount price of RMB 30 per tonne to a premium price of RMB 10 per tonne.

Hangzhou has seen the highest hike in aluminium ingot price today by RMB 95 per tonne to RMB 13,835 per tonne, followed by Wuxi, Linyi, and Gongyi, where the price has grown by RMB 90 per tonne to RMB 13,810 per tonne, RMB 13,840 per tonne, and RMB 13,700 per tonne, respectively. The aluminium ingot price in Shenyang has, however, inched down by RMB 65 per tonne to RMB 13,695 per tonne.

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