Alumina drops further after a temporary restraint at the expectation of supply tightness
Despite market participant’s expectations that alumina prices would rebound following some production cuts due to shortage of natural gas, alumina continued to move downward after a brief stop. As forecasted by analysts from SMM, natural gas rationing had little influence on alumina output and prices started sloping downward further.
As updated by Shanghai Metals Market, average spot alumina price in China stands at RMB 2855 per tonne on December 27, down 1.2% from RMB 2889 per tonne on December 26. Domestic spot alumina prices have also dropped to RMB 2800/t from to RMB 2860/t on December 26.
Chalco Alumina and Imported Alumina remain unchanged today. Spot alumina prices in the domestic markets can be seen in the following table:
Weak alumina prices have not much affected the primary ingot prices in China today as the A00 ingot prices saw an increase across all markets. Average A00 ingot price stands at RMB 14,250 per tonne today and expected to move within a range of RMB 14,230-14,270 today. SMM predicted SHFE aluminium contract to be rangebound at RMB 14,500-14,800/t. Spot discounts are seen at RMB 340-300/t today.
Other raw materials like bauxite and prebaked anode prices remain unchanged on December 27.
China alumina supply not to be affected by natural gas shortage; prices to dip further
Next articleUS imports of alumina jumps 19% in Q3 2017, exports drops 32% QoQ
Grow with
AL Circle
