As of November 13, the national average spot price for metallurgical-grade alumina with purity exceeding 98.6 per cent dipped by 0.3 per cent on week to RMB 2,867 per tonne (USD 403 per tonne), according to Mysteel's price assessment. The decline was smaller than the 1.1 per cent drop recorded the previous week, Mysteel Global noted.
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The narrowed price decrease was largely because of firm transaction prices in alumina tenders in North China, where some primary aluminium smelters with immediate restocking needs agreed to accept higher offers from alumina traders holding tighter stockpiles, according to market sources.
On the supply side, alumina production remained largely stable last week. While recent suspensions of calciners at several alumina producers in North China, along with maintenance stoppages at two refiners each in the Guangxi autonomous region and Shanxi province during the past week, impacted local alumina production, the impact on nationwide alumina output was limited.
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