The incessant downfall in Chinese primary aluminium stocks has resulted in further significant growth in A00 aluminium ingot price by RMB 150 per tonne to stand at RMB 13,850 per tonne, as of Tuesday, June 9, found Shanghai Metals Market. The average prices are expected to range between RMB 13,830 per tonne and RMB 13,870 per tonne, with spot contract to be traded at a discount price of RMB 60 per tonne to RMB 20 per tonne.

The dip in spot contract could be attributed to the two consecutive significant rises in A00 aluminium ingot spot price resulting in slower purchasing sentiment and stock the metal for the future. 

Today, the aluminium ingot price in Shenyang has seen the highest growth of RMB 180 per tonne to come in at RMB 13,805 per tonne, followed by an increase of RMB 155 per tonne in Gongyi to stand at RMB 13,785 per tonne and rise of RMB 150 per tonne in Chongqing to RMB 13,860 per tonne. In Foshan and Hangzhou, the A00 aluminium ingot price has grown by RMB 140 per tonne to respectively hover at RMB 13,850 per tonne and RMB 13,840 per tonne, while that in Wuxi and Tianjin has increased by RMB 130 per tonne to RMB 13,800 per tonne and RMB 13,790 per tonne, respectively. Linyi has seen a rise of RMB 120 per tonne to RMB 13,780 per tonne.

Backed on the hike in A00 aluminium ingot price, the price of aluminium alloy (A356) has also continued to grow by RMB 150 per tonne to stand at RMB 14,450 per tonne on June 9, according to Shanghai Metals Market.

However, the prices of aluminium alloys (ADC12) and aluminium alloy (380) have recorded a restraint at RMB 13,950 per tonne and RMB 14,850 per tonne.

As far as the aluminium raw materials prices are concerned, none except the price aluminium fluoride has recorded a change. It has declined by RMB 150 per tonne to clock at RMB 7,750 per tonne. Other raw materials such as alumina and bauxite have remained restrained at RMB 2,236 per tonne and RMB 540 per tonne, respectively.