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Increased smelter buying to check current alumina price fall in China
Alumina price decline in major China markets is expected to slow down as current low prices are attracting increased buying, observe market watchers. While the volatility is hurting bottom lines of the alumina refiners, aluminium producers in China are reaping higher profits from the reduced cost of production and higher aluminium prices.
With alumina market prices dropping to their psychological procurement price range, it is expected that aluminium producers will further step up their alumina buying activities helping narrowing down of price declines.
As per Shanghai Metals Market projections, alumina price in Guangxi will fall below 2,400 yua per tonne while prices of the commodity in other regions will test 2,400 yuan per tonne this week.
Following table shows spot alumina price trends in four major China markets plus Alumina Imported and Alumina Chalco prices as recorded by SMM on April 18:
SMM Alumina prices in RMB per tonne
As on April 14, the weighted average traded price of alumina in domestic markets was 2,464 yuan per tonne.Get fresh Aluminium data and insights
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