China’s alumina spot price reaches more than two-year high above RMB3500/t; A00 aluminium ingot price grows by RMB10/t

In Lianyungang, alumina spot price has skyrocketed by RMB 105 per tonne to reach RMB 3,520 per tonne, followed by the surge of RMB 50 per tonne in Shandong, Henan, Shanxi, and Bayuquan. In Shandong and Bayuquan, the alumina price is standing at RMB 3,470 per tonne and RMB 3,570 per tonne, while the price in Henan and Shanxi at RMB 3,490 per tonne.

If compared to a month ago, China’s domestic alumina spot price has recorded an increase of RMB 204 per tonne or 6.19 per cent from RMB 3,297 per tonne. This significant jump in prices is driven by slow production resumptions at local alumina refineries as well as bauxite mines.

The Australian alumina FOB price has also grown over the holiday to stand at US$402 per tonne. According to SMM, the price gained US$2 per tonne from a week ago and US$29 per tonne from a month earlier.