Following the three consecutive hikes from RMB 14,320 per tonne to RMB 15,320 per tonne, the A00 aluminium ingot price has recorded a sharp decline today, July 14, of RMB 420 per tonne to stand at RMB 14,900 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,880 per tonne and RMB 14,920 per tonne, with spot contract to be traded at a premium price of RMB 20 per tonne.

Among the major Chinese markets, Wuxi has seen the highest decrease in primary aluminium ingot price by RMB 515 per tonne to RMB 14,905 per tonne. In Shenyang, Hangzhou, and Tianjin, the A00 aluminium ingot price has plunged by RMB 455 per tonne, RMB 450 per tonne, and RMB 440 per tonne to stand at RMB 14,815 per tonne, RMB 14,950 per tonne, and RMB 14,840 per tonne, respectively. In Gongyi and Chongqing, the price has increased by RMB 430 per tonne to RMB 14,735 per tonne and by RMB 365 per tonne to 14,760 per tonne, respectively, while that in Linyi and Foshan has increased by RMB 320 per tonne and RMB 300 per tonne to RMB 14,890 per tonne and RMB 14,800 per tonne.

The price of aluminium alloy (A356) has also registered a sharp downfall of RMB 450 per tonne to RMB 15,500 per tonne, as of July 14. The average prices are expected to range between RMB 15,450 per tonne and RMB 15,550 per tonne.

The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have inched down by RMB 50 per tonne to stand at RMB 14,050 per tonne and RMB 14,950 per tonne, respectively.

As far as the aluminium input costs are concerned, the Australian alumina FOB price has recorded a rise of US$ 13 per tonne to stand at US$ 284 per tonne on July 14, according to SMM. The Chinese average alumina spot price has, however, remained restrained at RMB 2,495 per tonne and so the price of imported alumina at RMB 2,450 per tonne.