Jan 27(LTIT) - Extending hike for the fourth day in a row by RMB 5 per tonne, the average alumina spot price in China is standing at RMB 2,403 per tonne on Wednesday, January 27, according to Shanghai Metals Market data. All the major Chinese markets have also witnessed the growth of RMB 5 per tonne. In Shandong, Henan, and Shanxi, the alumina price is hovering around RMB 2,410 per tonne, while the price in Guizhou and Guangxi has come in at RMB 2,365 per tonne.

China’s alumina spot price settles higher for the fourth consecutive day at RMB2403/t

Imported alumina price and Australian alumina FOB price have continued to remain restrained at RMB 2,500 per tonne and US$ 306 per tonne, respectively.

Despite the continued hike in alumina price, the A00 aluminium ingot price in China has recorded a fall even today, on January 27, by RMB 50 per tonne to stand at RMB 14,910 per tonne, found SMM. The average prices are expected to range between RMB 14,890 per tonne and RMB 14,930 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne.

In Chongqing, primary aluminium ingot price has decreased by RMB 65 per tonne to RMB 14,860 per tonne, while the price in Shenyang and Gongyi has dwindled by RMB 55 per tonne and RMB 50 per tonne to stand at RMB 14,950 per tonne and RMB 14,810 per tonne, respectively. In Linyi, Foshan, and Hangzhou, A00 aluminium ingot price has declined by RMB 40 per tonne, RMB 20 per tonne, and RMB 15 per tonne, respectively, to peg at RMB 15,000 per tonne, RMB 14,860 per tonne, and RMB 14,950 per tonne. In Wuxi, the aluminium ingot price has shown an exception by recording a hike of RMB 10 per tonne to RMB 14,910 per tonne.

Aluminium alloy (A356) price has also reported a downfall of RMB 50 per tonne to clock at RMB 15,600 per tonne on Wednesday, January 27. The average prices are expected to range RMB 15,550 per tonne and RMB 15,650 per tonne. Aluminium alloys (ADC12) price and aluminium alloy (A380) price have remained muted at RMB 16,750 per tonne and RMB 17,650 per tonne, respectively.