Futures Market: Overnight, the most-traded alumina 2509 contract opened at RMB 2,860 per tonne, with a high of RMB 2,898 per tonne, a low of RMB 2,855 per tonne and closed at RMB 2,896 per tonne, up RMB 41 per tonne or 1.45 per cent. Open interest stood at 301,000 lots.
Ore: As of June 17, the SMM imported bauxite index was reported at USD 74.06 per tonne, up USD 0.01 per tonne from the previous trading day, mainly due to a decline in caustic soda prices in Shandong. The SMM Guinea bauxite CIF average price was reported at USD 74.5 per tonne, unchanged from the previous trading day. The SMM Australian low-temperature bauxite CIF average price was reported at USD 70 per tonne, unchanged from the previous trading day. The SMM Australian 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 17, the SMM alumina index had a premium of RMB 357.89 per tonne against the latest transaction price of the most-traded contract at 11:30.
Warrant Report: On June 17, the total registered alumina warrants decreased by 17,134 tonnes from the previous trading day to 63,000 tonnes. In Shandong, the total registered alumina warrants remained unchanged at 601 tonnes from the previous trading day. In Henan, the total registered alumina warrants remained unchanged at 300 tonnes from the previous trading day. In Guangxi, the total registered alumina warrants remained unchanged at 3,001 tonnes from the previous trading day. In Gansu, the total registered alumina warrants remained unchanged at 0 tonnes from the previous trading day. In Xinjiang, the total registered alumina warrants decreased by 17,134 tonnes from the previous trading day to 59,100 tonnes.
Overseas Market: As of June 17, 2025, the FOB Western Australia alumina price was USD 370 per tonne, with an ocean freight rate of USD 22.00 per tonne. The USD/CNY selling rate was around 7.20. This price translates to an approximate ex-factory price of RMB 3,269 per tonne at major domestic ports, which is RMB 57 per tonne higher than the domestic alumina price. The alumina import window remained closed.
Summary: Last week, the operating capacity of alumina increased by 1.74 million tonnes per year MoM to 89.01 million tonnes per year. Spot supply was relatively loose compared to the previous period. The total weekly inventory of alumina at aluminium smelters increased by 16,000 tonnes to 2.646 million tonnes. Recently, the alumina market has been relatively quiet, with the fundamental outlook expected to remain relatively loose. Earlier, some ex-factory prices of around RMB 3,100 per tonne were reported in the northern alumina spot market, while sporadic spot transactions were reported in south-west China, with the lowest transaction price reaching RMB 3,200 per tonne, which was at a discount to the online price. In the short term, alumina spot prices are expected to continue to decline. Subsequent 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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