Alumina spot price continues to fall by RMB20/t, but A00 aluminium ingot price extends growth

Shanghai Metals Market found the average spot price of aluminium has dropped further today, on November 20, by RMB 20 per tonne to stand at RMB 2,518 per tonne. This marks the second consecutive fall in the spot price of alumina after remaining restrained for a week at RMB 2,572 per tonne. Prior to that also, the price recorded incessant declines since the month began with intermittent restraints, ranging between RMB 2,596 per tonne and RMB 2,572 per tonne.

The markets in south China have seen the highest fall in alumina price today by RMB 30 per tonne to RMB 2,510 per tonne, followed by the markets in the east and central where the price has dwindled by RMB 20 per tonne and RMB 10 per tonne respectively to come in at RMB 2,540 per tonne.

But despite the back-to-back fall in the input cost, the A00 aluminium ingot price has extended its growth by RMB 20 per tonne to RMB 13,980 per tonne, marking the third consecutive rise, as of November 20, learned SMM. The average prices are expected to range between RMB 13,960 per tonne and RMB 14,000 tonnes, with spot contract to be traded at a premium price of RMB 90-130 per tonne.

Except Shenyang and Tianjin where the ingot price has remained restrained at RMB 13,960 per tonne and RMB 13,940 per tonne respectively, Hangzhou, Foshan, Wuxi, and Chongqing has recorded a price rise of RMB 25 per tonne and RMB 20 per tonne to stand at RMB 14,015 per tonne, RMB 13,920 per tonne, RMB 13,970 per tonne and RMB 13,950 per tonne, respectively. In Linyi and Gongyi, the ingot price has inched up as well, by RMB 10 per tonne and RMB 5 per tonne to RMB 14,030 per tonne and RMB 13,925 per tonne.

Aluminium alloys (ADC12), aluminium alloy (A356), and aluminium alloy (A380) have also recorded growth in their respective prices by RMB 50 per tonne to RMB 14,600 per tonne, RMB 14,700 per tonne, and RMB 15,500 per tonne.

The increase in the prices of aluminium ingot and aluminium alloys could be attributed to the supply shortage in the market, as production ramp-up and recovery of closed smelters are undergoing slower than expected.

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