On Wednesday, June 14, China’s A00 aluminium ingot price has expanded by RMB 180 per tonne to settle at RMB 18,580 per tonne. As the balance sheets of the companies are showing improvement due to economic recovery in China, companies are showing interest in purchasing aluminium stocks. Also, with the improved hydropower generation in Yunan, the gap between the demand and supply of aluminium has been removed. As a result, the A00 aluminium ingot prices have recorded M-o-M surge of RMB 550 per tonne.
On a W-o-W calculation, a surge of RMB 200 per tonne has been witnessed from RMB 18,380 per tonne recorded on June 7. Today, the spot contract price is expected to be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne. The average prices are expected to range between RMB 18,560 per tonne and RMB 18,600 per tonne.
The price in Foshan has surged by RMB 260 per tonne to score at RMB 18,600 per tonne, followed by a hike of RMB 210 per tonne in Chongqing to settle at RMB 18,580 per tonne. In Wuxi and Hangzhou, the A00 aluminium ingot prices have gained RMB 190 per tonne and RMB 180 per tonne to halt at RMB 18,580 per tonne. On the same day, the price in Gongyi ascended by RMB 170 per tonne to peg at RMB 18,420 per tonne. The A00 aluminium ingot prices in Tianjin and Linyi have grown by RMB 140 per tonne and RMB 130 per tonne, to come in at RMB 18,560 per tonne and RMB 18,530 per tonne. Only in Shenyang, the price has dropped by RMB 140 per tonne to clock at RMB 18,410 per tonne.
The domestic price of low-carbon aluminium has soared up by RMB 260 per tonne to halt at RMB 19,193 per tonne. The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have escalated by RMB 200 per tonne to settle at RMB 26,100 per tonne and RMB 27,100 per tonne.
The average alumina spot price has lost RMB 3 per tonne to reach RMB 2,826 per tonne. In Shandong and Shanxi, the prices have fallen by RMB 5 per tonne, scoring at RMB 2,800 per tonne and RMB 2,805 per tonne.
The aluminium alloy (A356) price has gained RMB 200 per tonne to come in at RMB 19,300 per tonne, with the average prices expected to orbit between RMB 19,100 per tonne and RMB 19,500 per tonne. On the same day, both (ADC12) price and aluminium alloy (A380) prices have grown by RMB 50 per tonne to settle at RMB 18,500 per tonne and RMB 19,500 per tonne. The average price for (ADC12) may range between RMB 18,400 per tonne and RMB 18,600 per tonne. The average prices for aluminium alloy (A380) are expected to clock between RMB 19,400 per tonne and RMB 19,600 per tonne.
