Futures Market: On Friday, the most-traded alumina 2509 futures contract opened at RMB 2,909 per tonne during the night session, with a high of RMB 2,922 per tonne, a low of RMB 2,889 per tonne, and closed at RMB 2,898 per tonne, down RMB 3 per tonne or 0.10 per cent from the previous close. Open interest stood at 307,000 lots.
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Ore Market: As of June 6, the SMM Import Bauxite Index was reported at USD 75.20 per tonne, up USD 0.26 per tonne from the previous trading day. The SMM Guinea Bauxite CIF average price was reported at USD 75 per tonne, unchanged from the previous trading day. The SMM Australia Low-Temperature Bauxite CIF average price was reported at USD 70 per tonne, unchanged from the previous trading day. The SMM Australia High-Temperature Bauxite CIF average price was reported at USD 65 per tonne, unchanged from the previous trading day.
Industry Updates:
(1) Bauxite Port Inventory: According to SMM statistics on June 6, the total bauxite inventory at nine domestic ports was 21.2 million tonnes, a decrease of 360,000 tonnes from the previous week.
Basis Report: According to SMM data, on June 6, the SMM Alumina Index premium against the latest transaction price of the most-traded contract at 11:30 was RMB 325.68 per tonne.
Warrant Report: On June 6, the total registered alumina warrants decreased by 3,906 tonnes from the previous trading day to 92,500 tonnes. The total registered alumina warrants in Shandong remained unchanged at 601 tonnes from the previous trading day. The total registered alumina warrants in Henan remained unchanged at 300 tonnes from the previous trading day. The total registered alumina warrants in Guangxi remained unchanged at 3,001 tonnes from the previous trading day. The total registered alumina warrants in Gansu remained unchanged at 0 tonne from the previous trading day. The total registered alumina warrants in Xinjiang decreased by 3,906 tonnes from the previous trading day to 88,600 tonnes.
Overseas Market: As of June 6, 2025, the FOB Western Australia alumina price was USD 370 per tonne, with an ocean freight rate of USD 21.85 per tonne. The USD/CNY selling rate was around 7.20. This price translates to an approximate external selling price of RMB 3,269 per tonne at major domestic ports, which is RMB 0.70 per tonne lower than the domestic alumina price, indicating a gradual opening of the alumina import window.
Last week, the operating capacity of alumina increased by 600,000 tonnes per year to 87.27 million tonnes per year. It is understood that some imported alumina arrived at Chinese ports. With supply recovering and no significant changes in demand, the total inventory of alumina at aluminium smelters increased by 19,000 tonnes to 2.63 million tonnes last week.
The import window remained open, and the imported alumina supply is expected to increase in the future. In the short term, the alumina fundamentals may shift towards a relatively loose pattern, and alumina spot prices are expected to remain in the doldrums. Continuous attention should be paid to changes in the capacity of domestic alumina enterprises and the supply of imported alumina.
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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