DAILY: China's spot alumina prices hold steady, futures soften
Chinese spot alumina prices held steady across China's five key alumina-producing regions on July 25, while buying activity slowed as most downstream primary aluminium smelters turned cautious towards spot purchases. The same day, domestic alumina futures prices plunged during the nighttime trading session after earlier gains.
Mysteel assessed spot prices for smelter-grade alumina with purity exceeding 98.6 per cent unchanged in Shandong, Henan, Shanxi, and Guizhou provinces and in the Guangxi autonomous region, within a range of RMB 3,195 per tonne (USD 446 per tonne) to RMB 3,315 per tonne on Friday.
In the derivatives market, alumina futures on the Shanghai Futures Exchange (SHFE) weakened during Friday's nighttime session. The most-traded September contract slumped by 6.3 per cent by the close of the nighttime session, erasing the 1.27 per cent increase seen during the daytime session, SHFE data showed.
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