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02 FEBRUARY 2018 AL CIRCLE

Spot alumina prices remain flat for a week; expected to see some gain before Chinese New Year holiday

EDITED BY : BEETHIKA BISWAS 2MINS READ

Currently, spot alumina price in China is struggling to stay afloat in the face of slow demand and prices are staying flat for more than a week. SMM forecasts alumina prices are likely to rally ahead of the Chinese New Year holiday in mid-February before downward pressure returns. Today’s average alumina price stands at RMB 2894 per tonne, slightly down from last closing. The average price of Chinese domestic alumina in four major regions stood at RMB 2,855 per tonne. Chalco Alumina and imported alumina prices remain unchanged today. Spot alumina prices have continued falling after touching the highest in November beginning. The price trend in last three months can be seen in the following graph:

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The drop in alumina price was mainly led by a slump in aluminium ingot price and sellers’ willingness to shell out stock at a lower price. Sellers were drawing good profits because of falling bauxite and caustic soda prices and hence, lower production costs.  Most of the alumina plants, which were partially affected by natural gas supply disruption are now back in action and prices are expected to reach a higher level when new aluminium capacities come online in the first quarter.

The market remains passive before the holidays and there are fewer activities at the begining of February. After three consecutive drops, average A00 ingot prices have registered a moderate gain today to stand at RMB 14,210 per tonne. The prices are expected to move within a range of RMB 14,190-14,230. Spot discount will range within RMB 120-80 per tonne today. 

As for other major raw materials are concerned, Bauxite and Prebaked anode prices remain unchanged today. Imported Bauxite price CIF China has gained a little to stand at USD 47.7 per tonne.

 

Tagged with:

Alumina price China Price SMM

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EDITED BY : BEETHIKA BISWAS 2MINS READ

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