DAILY: China's spot alumina prices see regional rises, futures surge on policy optimism
Chinese spot alumina prices mostly held steady on July 18, while futures prices surged on the back of improved market sentiment.
Among China's five key alumina-producing areas, spot prices for metallurgical-grade alumina with purity above 98.6 per cent in Guizhou province and the Guangxi autonomous region both edged higher by RMB 10 per tonne (USD 1.4 per tonne) on day to reach RMB 3,260 per tonne and RMB 3,275 per tonne respectively on July 18, according to Mysteel's assessment. Meanwhile, the assessed prices for the same grade held steady on day at RMB 3,140-3,160 per tonne in Shandong, Henan, and Shanxi provinces.
Price gains in the Southwestern regions were largely driven by stronger demand from newly commissioned primary aluminum production capacity there in recent weeks, market watchers noted.
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