According to Shanghai Metals Market, the A00 aluminium ingot price has extended its rise for the third consecutive day by RMB 130 per tonne to RMB 13,150 per tonne, as of Monday, May 18. The average prices are expected to range between RMB 13,130 per tonne and RMB 13,170 per tonne, with spot contract to be traded at a future price of RMB 130-170 per tonne.

The continued drop in social inventories of primary aluminium ingots to as low as 1.007 million tonnes, as of May 18, owing to the imbalance between supply to warehouses and consumptions could be attributed to the hike in A00 aluminium ingot price.

In Tianjin, the primary aluminium ingot price has seen the highest growth today of RMB 180 per tonne to stand at RMB 13,020 per tonne, followed by the rise of RMB 170 per tonne in Wuxi to RMB 13,190 per tonne. In Chongqing, Foshan, and Hangzhou, the price has increased by RMB 140 per tonne and RMB 130 per tonne to hover at RMB 13,180 per tonne, RMB 13,160 per tonne, and RMB 13,190 per tonne, respectively. The aluminium ingot price in Gongyi and Shenyang is standing at RMB 13,140 per tonne and RMB 13,115 per tonne, respectively, after rising by RMB 120 per tonne and RMB 95 per tonne. Linyi has seen the lowest growth of RMB 10 per tonne on May 18.

Backed on the rise in A00 aluminium ingot price, the price of aluminium alloy (A356) has also recorded a growth of RMB 100 per tonne to RMB 13,900 per tonne. The average prices are expected to range between RMB 13,850 per tonne and RMB 13,950 per tonne.

But the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have shown no change from RMB 13,950 per tonne and RMB 14,850 per tonne.

As far as the input costs are concerned, only the price of aluminium powder has registered a growth of RMB 0.20 per kg to stand at RMB 17 per kg. Other raw materials prices like alumina, bauxite, and prebaked anode have remained restrained, respectively, at RMB 2,206 per tonne, RMB 540 per tonne, and RMB 2,700 per tonne.