SMM alumina spot price continues to move northward, reaching RMB3257/t; A00 aluminium ingot price loses RMB 130/t

The average alumina spot price in China has been following the growth trajectory since December 18, following the fuel blast deposit in Guinea. The explosion had sparked concern about a potential shortage of bauxite, affecting the alumina production in China. This has raised the buying enthusiasm for alumina for future use, and as a result, the domestic alumina spot price has been on the surge.  

As per the Shanghai Metals Market (SMM), the price of alumina today, on January 4, has surged by RMB 47 per tonne to settle at RMB 3,257 per tonne. On a Y-o-Y calculation, the price has moved northward by RMB 330 per tonne from RMB 2,927 per tonne recorded on January 4, 2023. The average alumina spot price has hiked by RMB 261 per tonne W-o-W from RMB 2,996 per tonne on December 4.
Alumina prices in the Chinese provinces
The prices in Henan, Shanxi, Guizhou and Guangxi have skyrocketed by RMB 50 per tonne to settle at RMB 3,300 per tonne, RMB 3,315 per tonne and RMB 3,250 per tonne. In Shandong, the alumina price has grown by RMB 35 per tonne to peg at RMB 3,125 per tonne. The present value has surged to its highest point over a year, propelled by a surge in ore purchases fuelled by concerns about potential production reductions and supply shortages.
A00 aluminium ingot prices
On the same day, China’s A00 aluminium ingot price fell by RMB 130 per tonne to halt at RMB 19,400 per tonne, with the average prices between RMB 19,380 per tonne and RMB 19,420 per tonne. The spot contract price may be traded at a discount price of RMB 20 to a premium price of RMB 20 per tonne.
The prices as of today have slumped in all the provinces, with the highest in Gongyi, Wuxi and Shenyang, where it has dropped by RMB 140 per tonne to peg at RMB 19,250 per tonne, RMB 19,400 per tonne and RMB 19,340 per tonne. Other regions like Hangzhou, Tianjin, and Linyi have descended by RMB 130 per tonne to reach RMB 19,400 per tonne, RMB 19,380 per tonne and RMB 19,400 per tonne. The domestic aluminium ingot prices in Foshan and Chongqing have decreased by RMB 110 per tonne to arrive at RMB 19,400 per tonne and RMB 19,370 per tonne.
Low-carbon aluminium and other prices
The domestic price of low-carbon aluminium has contracted RMB 110 per tonne to rest at RMB 20,199 per tonne. The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have slumped by RMB 100 per tonne to RMB 27,100 per tonne and RMB 28,100 per tonne.
The aluminium powder price has lost RMB0.1 per kg to settle at RMB 22 per tonne, with the average prices between RMB 21.9 per tonne and RMB 22.1 per tonne. As per the SMM data, the aluminium alloy (A356) price has contracted by RMB 150 per tonne to settle at RMB 20,050 per tonne, with the average prices standing between RMB 19,900 per tonne and RMB 20,200 per tonne.