As of Thursday this week, the SMM Alumina Index stood at RMB 2,895.93 per tonne, up RMB 4.29 per tonne W-o-W from last Thursday. In Shandong, prices were reported at RMB 2,820-2,880 per tonne, down RMB 10 per tonne W-o-W from last Thursday. In Henan, prices were reported at RMB 2,870-2,930 per tonne, up RMB 1 per tonne W-o-W from last Thursday. In Shanxi, prices were reported at RMB 2,870-2,930 per tonne, up RMB 10 per tonne W-o-W from last Thursday. In Guangxi, prices were reported at RMB 2,840-2,920 per tonne, down RMB 10 per tonne W-o-W from last Thursday. In Guizhou, prices were reported at RMB 2,930-2,970 per tonne, unchanged W-o-W from last Thursday. In Bayuquan, prices were reported at RMB 3,110-3,190 per tonne.
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Overseas market:
As of April 30, 2025, the FOB Western Australia alumina price was USD 348 per tonne, with an ocean freight rate of USD 20.50 per tonne. The USD/CNY exchange rate selling price hovered around 7.29. This price translates to approximately RMB 3,114 per tonne for the external selling price at major domestic ports, which is RMB 218 per tonne higher than the domestic alumina price, keeping the alumina import window closed. This week, one new overseas spot alumina transaction was inquired about, with the transaction price unchanged from the previous one: On April 23, 30,000 tonnes of alumina was traded overseas at USD 347.5 per tonne FOB Bunbury/Kwinana/Gladstone, Australia, with a May shipment.
Domestic Market:
According to SMM data, as of Wednesday this week, the total installed capacity of metallurgical-grade alumina nationwide was 109.22 million tonnes per year, with a total operating capacity of 87.1 million tonnes per year. The national weekly alumina operating rate increased by 2.05 percentage points W-o-W to 79.75 per cent, mainly due to the commissioning and ramp-up of new capacity, as well as the completion of maintenance and production resumption at some maintenance capacities. Specifically, the weekly alumina operating rate in Shandong remained unchanged at 91.74 per cent W-o-W. In Shanxi, the weekly alumina operating rate increased by 2.8 percentage points W-o-W to 73.20 per cent. In Henan, the weekly alumina operating rate decreased by 3.33 percentage points W-o-W to 52.50 per cent. In Guangxi, the weekly alumina operating rate increased by 6.39 percentage points W-o-W to 95.03 per cent.
During the period, alumina spot market transactions were sluggish. By region: Some alumina was procured through tenders by aluminium plants in Xinjiang, with delivery-to-factory prices around RMB 3,160-3,220 per tonne. In Shandong, 2,000 tonnes of alumina was traded at RMB 2,875 per tonne. In Henan, 2,000 tonnes of alumina was traded at RMB 2,930 per tonne. In addition, some warrant cargo transactions were inquired about in Shandong, Xinjiang, and Guangxi this week, with significant discounts against the online prices.
Overall:
With the commissioning of new capacity and the resumption of production at maintenance capacities, the operating capacity of alumina has rebounded significantly, increasing by 3.48 million tonnes year W-o-W. In the short term, some alumina refineries have plans for maintenance and production cuts, but at the same time, new alumina capacities will further ramp up production, and the operating capacity of alumina may show slight fluctuations. Overall, the tightening of alumina spot supply caused by the concentration of maintenance and production cuts in the early stage is expected to ease somewhat, and prices are expected to fluctuate in the short term.
Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.
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