Mysteel's daily price assessment showed that the national average spot price for smelter-grade alumina with a purity above 98.6 per cent edged up by RMB 2 per tonne (USD 0.3 per tonne) from Tuesday to RMB 2,671 per tonne, including 13 per cent VAT on Wednesday. The uptick was chiefly supported by firmer quotations in the country's southern markets.

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Among China's five key alumina-producing areas, the assessed prices for the same grade material in the Guangxi autonomous region and Guizhou province rose by RMB 5 per tonne day on day to RMB 2,695 per tonne and RMB 2,745 per tonne, respectively. In contrast, prices in Shandong, Henan, and Shanxi provinces remained stable within a range of RMB 2,605-2,660 per tonne.

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In the futures market, domestic alumina contracts weakened following two consecutive days of gains. The most-traded May alumina contract on the Shanghai Futures Exchange fell by 0.47 per cent in Wednesday's daytime trading and lost a further 1.04 per cent during the nighttime session, ending at RMB 2,766 per tonne as of 1 a.m. Thursday.

In the physical market, some primary aluminium smelters made routine purchases to replenish feedstock inventories, while alumina producers and traders maintained firm offering prices, according to market participants. Amid the current limited availability of spot alumina, buyers with urgent restocking needs were willing to accept slightly higher quotations.

Mysteel heard of one deal concluded on March 4 in Gansu province, where a smelter purchased 10,000 tonnes of spot alumina via tender from a trader at a delivered price of RMB 2,930 per tonne, including freight costs and VAT.

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