A00 aluminium ingot price has recorded a sharp jump by RMB 230 per tonne to stand at RMB 14,700 per tonne on Friday, July 10, according to Shanghai Metals Market. The average prices are expected to range between RMB 14,680 per tonne and RMB 14,720 per tonne, with spot contract to be traded at a premium price of RMB 100-140 per tonne.

This sharp growth in A00 aluminium ingot price could be attributed to the hike in primary aluminium demand among downstream producers and the continued fall in social inventories. As of July 9, the primary aluminium inventories stood at 712,000 tonnes after expanding the week-on-week fall to 7,000 tonnes from the decline of 3,000 tonnes a week ago.

In Hangzhou, the A00 aluminium ingot price has soared by RMB 285 per tonne to RMB 14,815 per tonne, followed by the surge of RMB 270 per tonne in Wuxi and Linyi to RMB 14,800 per tonne and RMB 14,730 per tonne, respectively. In Gongyi, the price has increased by RMB 265 per tonne to RMB 14,650 per tonne, while that in Shenyang and Tianjin has grown by RMB 240 per tonne to RMB 14,640 per tonne and RMB 14,670 per tonne, respectively. Chongqing and Foshan have seen a surge of RMB 180 per tonne and RMB 170 per tonne to respectively clock at RMB 14,550 per tonne and RMB 14,570 per tonne.

The price of aluminium alloy (A356) has increased as well by RMB 150 per tonne to come in at RMB 15,250 per tonne on July 10, found SMM. The average prices are expected to range between RMB 15,200 per tonne and RMB 15,300 per tonne. However, the prices of aluminium alloys (ADC12) and aluminium alloy (A356) are continuing at RMB 13,950 per tonne and RMB 14,850 per tonne, respectively.

Among the input costs, the average alumina spot price has extended its growth by RMB 26 per tonne to RMB 2,445 per tonne. Except for the south, where the price has remained restrained at RMB 2,520 per tonne, the central, north, and south have seen a hike of RMB 25 per tonne to RMB 2,425 per tonne and RMB 2,450 per tonne, respectively.