Spot alumina prices in major China markets plunged ahead of the impending rise which is almost certain as Xinjiang East Hope has announced capacity cut at its smelter. While imported alumina price remained unchanged and Chalco made no change to the price it offers to the markets, spot alumina traded majorly down in North, South, east and Central China.
As on Friday, July 7, the revised spot alumina prices are as follows:
{alcircleadd}Unit: RMB per tonne
Spot alumina price in the South China market witnessed the highest fall. Currently, the average price of the mineral stands at RMB 2,540 per tonne, down 2.31 per cent from its previous price of RMB 2,600 per tonne on July 6. Shanghai Metals Market observes that spot alumina in South China will range at RMB 2,510-2,570 per tonne in the short term.
Spot alumina prices in East China, Central China, and North China markets fell by 1.32 per cent each. The average prices of alumina (East China), alumina (Central China), and alumina (North China) stand at RMB 2,625 per tonne, RMB 2,625 per tonne, and RMB 2,625 per tonne respectively on July 7.
Alumina imported price remains unchanged at RMB 2,800 per tonne and Chalco keeps its price for alumina unaltered at RMB 2,650 per tonne.
As per industry sources, many refractory minerals processing plants in Tianjin are considering shutting down as the regional government readies to eliminate outdated facilities as part of the ongoing pollution control activities. This is set to further tighten alumina supply in the market leading to price rise.
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The prices of another key aluminium raw material- prebaked anode (TY-1) scaled higher in Northwest China and Central China markets. While Prebaked Anode (TY-1) price in Northwest China jumped by 2.44 per cent to RMB 4,200 per cent, price of Prebaked Anode (TY-1) in Central China surged by 4.11 per cent to RMB 3,800 per tonne.
The prices of other raw materials like cryolite and aluminium fluoride remained unchanged on sluggish demand.
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