Futures Market: Overnight, the most-traded alumina 2509 futures contract opened at RMB 2,906 per tonne, with a high of RMB 2,907 per tonne, a low of RMB 2,880 per tonne, and closed at RMB 2,883 per tonne, down RMB 9 per tonne or 0.31 per cent, with open interest at 300,000 lots.
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Ore: As of June 9, the SMM Import Bauxite Index was reported at USD 75.12 per tonne, down USD 0.08 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.
Basis report: According to SMM data, on June 9, the SMM Alumina Index premium against the latest transaction price of the most-traded contract at 11:30 was RMB 384.83 yuan/mt.
Warrant report: On June 9, the total registered alumina warrants decreased by 2,110 tonnes from the previous trading day to 90,400 tonnes. The total registered alumina warrants in Shandong remained unchanged from the previous trading day at 601 tonnes. The total registered alumina warrants in Henan remained unchanged from the previous trading day at 300 tonnes. The total registered alumina warrants in Guangxi remained unchanged from the previous trading day at 3,001 tonnes. The total registered alumina warrants in Gansu remained unchanged from the previous trading day at 0 tonne. The total registered alumina warrants in Xinjiang decreased by 2,110 tonnes from the previous trading day to 86,500 tonnes.
Overseas market: As of June 9, 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 external selling price at major domestic ports of approximately RMB 3,270 per tonne, which is RMB 4.03 per tonne higher than the domestic alumina price, indicating that the alumina import window is closed.
Summary:
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. As of June 9, the price of imported alumina shifted from profit to loss, and the import window was closed. In the short term, the fundamental outlook for alumina remains relatively loose, and alumina spot prices are expected to be in the doldrums. Subsequent attention should be paid to changes in the capacity of domestic alumina enterprises.
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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