Spot alumina price expands further to RMB3087/t, while aluminium ingot price dwindles by RMB20/t

According to Shanghai Metals Market, the spot price of alumina has recorded a further hike today, May 17, to RMB 3087 per tonne. Yesterday, the price was at RMB 2,990 per tonne, which means the price today has increased by RMB 97 per tonne. Over the month, the alumina spot price has risen from RMB 2,665 per tonne to RMB 3,087 per tonne, with no intermittent downfall. In contrast to the price in the same period last year, the spot alumina price is currently down by RMB 31 per tonne.

One of the major reasons behind the continued rise in alumina spot price over the last one month could be the shutdown of Xinfa Group’s all production lines for the indefinite period of time due to environmental dispute, which has the annual capacity of 2.8 million tonnes. A logistics source working with Xinfa even told Reuters that shipments from the Jiaokou plant had come to a halt.

Coming back to the alumina spot price, the east market today has seen a hike in price by RMB 80 per tonne to RMB 3070 per tonne, while the central and north have experienced a rise by RMB 100 per tonne to RMB 3,090 per tonne and RMB 3,110 per tonne, respectively. In the south market, the alumina price has grown by RMB 85 per tonne to RMB 3,020 per tonne.

However, despite the further expansion of the alumina spot price, the A00 aluminium ingot price has dwindled by RMB 20 per tonne to RMB 14,340 per tonne. The average prices are expected to range between RMB 14,320 per tonne and RMB 14,360 per tonne.