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.
In Shandong and Guangxi, alumina prices have increased by RMB 10 per tonne and RMB 5 per tonne, respectively to come in at RMB 3,680 per tonne and RMB 3,750 per tonne, according to the Shanghai Metals Market (SMM).
Australian alumina FOB price has continued to remain restrained at US$425 per tonne since May 16.
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China’s alumina spot price gains RMB5/t today; up 12.63% M-o-M; SMM A00 aluminium ingot price scores RMB210/t
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