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China’s alumina spot price marks continuous hike, up RMB62/t today; SMM A00 aluminium price loses RMB240/t with 1.09% M-o-M growth

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Update time : 2024-05-09 17:07:37
The alumina spot price in China has levitated by RMB 62 per tonne mid-week to close at RMB 3,628 per tonne. China’s alumina spot price is following an upward stride with consecutive expansions of RMB 50 per tonne and RMB 65 per tonne, with the market opening after the Labour Day Holiday observed from May 1 to 5. On May 6, the alumina price was at two-year high, crossing the RMB 3,500 per tonne mark. 

The alumina spot price in Shanxi has soared by RMB 80 per tonne to rest at RMB 3,640 per tonne, while the alumina price in Lianyungang has added RMB 72.50 per tonne to reach RMB 3,692.50 per tonne. In Shandong, Henan, Guizhou and Bayuquan, the alumina prices have ascended by RMB 60 per tonne to officially close at RMB 3,600 per tonne, RMB 3,610 per tonne, RMB 3,630 per tonne and RMB 3,700 per tonne. In Guangxi, the alumina price has earned RMB 40 per tonne to close at RMB 3,675 per tonne. 

The Australian alumina FOB price has grown by US$1 per tonne to close at US$403 per tonne. 

As per Shanghai Metals Market, today, on May 8, the SMM A00 aluminium ingot price has discarded RMB 240 per tonne to officially close at RMB 20,330 per tonne, with the average prices ranging between RMB 20,310 per tonne and RMB 20,350 per tonne. On a Month-on-Month scale there has been a stark escalation of RMB 220 per tonne or 1.09 per cent from RMB 20,110 per tonne on April 8. 

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