DAILY: Chinese spot alumina prices hold steady, futures
Chinese alumina prices for spot sales remained largely stable across China's five key alumina-producing hubs on August 1, while futures prices declined further.
Last Friday, Mysteel assessed spot prices for metallurgical-grade alumina with purity above 98.6 per cent unchanged in Shandong, Henan, Shanxi, and Guizhou provinces and in the Guangxi autonomous region, at a range between RMB 3,215 per tonne (USD 447.4 per tonne) and RMB 3,325 per tonne.
Meanwhile, domestic alumina futures extended their declines the same day. The most-traded September alumina contract on the Shanghai Futures Exchange (SHFE) dropped for the fourth consecutive trading day, sliding 2.86 per cent by the close of Friday's daytime trading session and losing a further 1.2 per cent in the nighttime session, according to SHFE data.
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Prices of raw & auxiliary materials fluctuate rangebound; Production cost of alumina in August is expected to be stable
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