On Thursday, the national average spot price for smelter-grade alumina with over 98.6 per cent purity slipped by RMB 14 per tonne (USD 2 per tonne) from Wednesday to RMB 3,187 per tonne, extending its decline for a third straight working day, Mysteel's daily price assessment showed. The price drop stemmed from reduced trading prices and seller quotations across the country's five major alumina production bases.
Among those, the sharpest on-day fall was in Shandong province, with average prices there dropping by RMB 20 per tonne to RMB 3,110 per tonne. Prices in Shanxi and Henan provinces decreased by RMB 15 per tonne each from the prior day to RMB 3,125 per tonne and RMB 3,150 per tonne, respectively, while those in Guizhou province and the Guangxi autonomous region both slid by a smaller RMB 10 per tonne to average the same RMB 3,275 per tonne.
On the demand side, some buyers with steady restocking demand tended to make purchases of spot alumina at discounted prices, which in turn pressured some alumina producers and traders to trim offers further amid an easing supply environment, according to market watchers.
Responses
