DAILY: Chinese spot alumina holds steady amid tight availability

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Mysteel assessed the national average price for metallurgical-grade alumina with a minimum purity of 98.6 per cent at RMB 2,696 per tonne (USD 395 per tonne) on Monday, standing still for the fifth consecutive working day.

 At the regional level, assessed prices for the same grade of alumina across China's five major alumina production regions - Shandong, Henan, Shanxi, Guizhou, and Guangxi - were all unchanged from last Friday, ranging between RMB 2,650 per tonne and RMB 2,790 per tonne. Prices in Guizhou and Guangxi have held steady for six straight working days, Mysteel Global noted.

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 In the derivatives market, alumina futures on the Shanghai Futures Exchange remained volatile. The most-traded September alumina contract jumped by 2.66 per cent during Monday's daytime trading but eased by 0.38 per cent overnight, closing the night-time session at RMB 2,877 per tonne as of 1 a.m. Tuesday.

 In the physical market, most alumina suppliers maintained stable offers amid temporary tightening in availability. Meanwhile, many downstream primary aluminium smelters stayed on the sidelines, anticipating potential price declines, although some with urgent restocking needs proceeded with purchases of the raw material.

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 Buying activity was limited yesterday, with Mysteel hearing of only one deal concluded in the domestic spot market. A smelter in Xinjiang purchased 10,000 tonnes of North China-origin alumina via tender at a delivered price of RMB 3,010-3,020 per tonne including freight and the VAT.

Note: This news is published under a content and exchange agreement with Mysteel