China’s A00 aluminium ingot price registers a W-o-W hike of RMB520/t; Input costs expand over weekend

According to the Shanghai Metals Market survey, A00 aluminium ingot price has increased over the weekend for the fifth day in a row by RMB 130 per tonne to reach RMB 18,900 per tonne on December 18. Thus, on a week-on-week basis, China’s primary aluminium ingot price has hiked by RMB 520 per tonne from RMB 18,380 per tonne, attributed to aluminium operating capacity drop, particularly in Yunnan, due to renewable power shortages. 

The average prices are estimated to range between RMB 18,880 per tonne and RMB 18,920 per tonne, with a spot contract to be traded at a premium price of RMB 10-50 per tonne.
In Chongqing, A00 aluminium ingot price has surged by RMB 210 per tonne over the weekend to RMB 19,030 per tonne, followed by an increase of RMB 130 per tonne in Hangzhou to RMB 18,900 per tonne and RMB 120 per tonne in Linyi and Foshan to RMB 19,020 per tonne and 19,010 per tonne, respectively.
In Gongyi, Wuxi, and Shenyang, A00 aluminium ingot price has climbed up by RMB 110 per tonne to settle at RMB 18,990 per tonne, RMB 18,890 per tonne, and RMB 18,880 per tonne, respectively.
China’s domestic low-carbon aluminium price has gained RMB 119 per tonne to stand at RMB 19,752 per tonne, while high-purity aluminium price has grown by RMB 100 per tonne to rest at RMB 27,600 per tonne.
Raw material prices:
Among primary aluminium input costs, the average alumina spot price has inched up by RMB 1 per tonne to RMB 2,997 per tonne after remaining restrained at RMB 2,996 per tonne since November 22.
In Shanxi, alumina price has increased by RMB 5 per tonne to stand above RMB 3,000 per tonne. According to SMM, the price is recorded at RMB 3,005 per tonne, with average prices between RMB 2,990 per tonne and RMB 3,020 per tonne.
China’s bauxite import price has gained US$0.27 per tonne to reach US$70.06 per tonne, while the country’s domestic bauxite price in Guizhou has ascended by RMB 10 per tonne to settle at RMB 370 per tonne.
Alloy prices:
China’s domestic aluminium alloy prices have neither shied away from recording escalations. As per the SMM data, aluminium alloys (ADC12) price, aluminium alloy (A380) price, and aluminium alloy (A360) price have increased by RMB 150 per tonne to open the week at RMB 19,700 per tonne, RMB 20,700 per tonne, and RMB 19,850 per tonne, respectively.