China’s alumina price further gains RMB2/t due to continued demand growth; A00 aluminium ingot price stands 2.56% higher M-o-M
China’s domestic alumina spot price has been rallying uninterruptedly since April 22 due to increased demand but limited supply because of production cuts at some refineries, especially in Henan, for insufficient availability of bauxite. Over the past weekend, the ore price has gained RMB 2 per tonne to reach RMB 3,721 per tonne as of May 20, up by 12.18 per cent from RMB 3,317 per tonne a month ago.
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