DAILY: Chinese spot alumina prices mark time
On Tuesday, Mysteel assessed physical prices for metallurgical-grade alumina with more than 98.6 per cent purity as unchanged in Shandong, Henan, Shanxi, Guizhou provinces and in the Guangxi autonomous region, ranging between RMB 3,215 per tonne (USD 447 per tonne) and RMB 3,325 per tonne. The prices have held steady for around one week, Mysteel Global noted.
Spot prices remain on hold mainly because of growing caution in the market, as signs have emerged that domestic alumina supplies are gradually loosening, according to market sources.
Some traders reported improved logistics and material pick-up efficiency at alumina refineries in Shanxi, Shandong, and Hebei, indicating that the previous supply tightness has been alleviated, the sources added.
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