A00 aluminium ingot price rises by RMB70/t amidst alumina price drop by RMB67/t

After two consecutive days of decline from RMB 13,920 per tonne to RMB 13,830 per tonne, the A00 aluminium ingot price has recorded a rise today, on June 25, to RMB 13,900 per tonne, found Shanghai Metals Market. This suggests that the price has grown by RMB 70 per tonne today. The average prices are expected to range between RMB 13,880 per tonne and RMB 13,920 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB 10 per tonne to a premium of RMB 30 per tonne.

As the first half of the year is approaching an end, it can be said that until the middle of the last month the A00 aluminium ingot price has shown an upward trend with some intermittent downfalls. The increase in prices was buoyed by the continued decline in inventories. While the price had started the year with RMB 13,310 per tonne, it grew to RMB 14,360 per tonne over five years. However, this month has started with a bearish sentiment as far the ingot price is concerned. After May 27, the price started declining to stand at RMB 13,900 per tonne, as of today, with a few intermittent rises. Tight supply along with sluggish demand and lowered alumina price are some of the factors for this narrow aluminium ingot price.

Among the major cities in China, Foshan has seen a maximum growth today in aluminium ingot price by about RMB 90 per tonne to stand at RMB 13,970 per tonne. In Chongqing, Hangzhou, Gongyi, Wuxi, Tianjin, and Linyi, the aluminium ingot price has expanded by RMB 70 per tonne, RMB 60 per tonne, RMB 55 per tonne, and RMB 50 per tonne respectively.

The average spot price of alumina, however, has recorded a drop by RMB 67 per tonne to come in at RMB 2,896 per tonne, as of June 25.

In the central and north, the alumina price is standing at RMB 2,910 per tonne and RMB 2,870 per tonne after declining by RMB 70 per tonne, while in the east and south the price has inched down by RMB 60 per tonne and RMB 50 per tonne to RMB 2,910 per tonne and RMB 2,925 per tonne, respectively.