WEEKLY: China's spot alumina prices rise on tight supply, slower output growth
China's spot alumina prices edged higher during the week of July 11-17 amid temporary supply tightness in the domestic spot market.
According to Mysteel's price assessment, the national price for smelter-grade alumina with purity above 98.6 per cent had risen by 1.1 per cent from July 10 to reach Yuan 3,193/tonne ($445/t) on July 17. This followed a 1.2 per cent increase recorded during the previous week.
Last week's price gains were largely driven by reduced availability of spot goods, as output growth slowed. This was primarily due to ongoing maintenance stoppages at two alumina producers in Shandong province and the Guangxi autonomous region which began in early July and have continued to constrain production, market analysts noted.
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