DAILY: Chinese spot alumina prices hold steady over Qingming festival break

On April 3, Mysteel assessed the national average spot price for metallurgical-grade alumina with a minimum purity of 98.6 per cent at RMB 2,783 per tonne (USD 404.2 per tonne), including 13 per cent VAT, unchanged for the third consecutive working day.

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Regionally, price assessments for the same grade of alumina also stayed flat across China's five key alumina-producing regions – namely, Shandong, Henan, Shanxi, Guizhou, and Guangxi – and ranged between RMB 2,750per tonne and RMB 2,830 per tonne.

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In contrast, the domestic alumina futures market weakened further before trading was halted for the holiday weekend after the daytime session on April 3. The most-traded May contract on the Shanghai Futures Exchange ended the daytime trading period at RMB 2,741 per tonne last Friday, down by 0.9 per cent from Thursday's settlement price. This marked the lowest level since late January this year, Mysteel Global noted.

Buying activity in the spot market was subdued before and during the three-day holiday. Alumina sellers and buyers were largely inactive in terms of offering quotations and making price inquiries, contributing to the flat price trend.

Transactions were limited during the period, with Mysteel not hearing of any concluded deals.

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