Alumina prices in China slip
2024-03-07 08:27:12 [Print]
BEIJING (Asian Metal) 7 Mar 24 - From two weeks ago, aluminum smelters in China turned inactive in new alumina orders and the demand weakened. Present mainstream prices for alumina 98.5%min in China keep at RMB3,280-3,380/t (USD456-469/t) EXW, down by RMB20/t (USD3/t) from one week ago and might keep stable in the coming week.
A Shanxi-based alumina 98.5%min producer reported that they now quote RMB3,350/t (USD465/t) EXW T/T and previously sold around 3,000t late last week at the price, while the best sales price in the middle of last month could reach RMB3,390/t (USD471/t) EXW T/T. "End users become inactive in new purchases after the holiday, so alumina prices slipped," said the source, who insists on the best price of RMB3,350/t (USD465/t) EXW now and anticipates stable prices in the coming week.
Based on two production lines and the total production capacity of 900,000tpy, they would produce around 70,000t this month, similar to last month and hold no stock now. They produced over 150,000t so far this year and around 500,000t in 2023.
An aluminum smelter in Xinjiang confirmed that the best purchase price for alumina 98.5%min they received now keeps at around RMB3,600/t (USD500/t) delivered T/T including the freight of RMB290/t (USD40/t), less than the price of RMB3,660/t (USD508/t) delivered T/T in the middle of last month. "We do not plan to place a new order in the coming two months, as the price might slip to around RMB3,500/t (USD486/t) delivered by late this month for the weakening demand," said the source, who previously ordered around 10,000t in late January at RMB3,650/t (USD507/t) delivered T/T and forecasts stable mainstream prices in the coming week.
The aluminum smelter, with the annual alumina consumption capacity of 1.8 million tonnes, used around 130,000t of alumina last month and the volume might keep stable this month, with present stocks around 80,000t. They consumed over 1.5 million tonnes last year and around 250,000t during the first two months of this year.
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A Shanxi-based alumina 98.5%min producer reported that they now quote RMB3,350/t (USD465/t) EXW T/T and previously sold around 3,000t late last week at the price, while the best sales price in the middle of last month could reach RMB3,390/t (USD471/t) EXW T/T. "End users become inactive in new purchases after the holiday, so alumina prices slipped," said the source, who insists on the best price of RMB3,350/t (USD465/t) EXW now and anticipates stable prices in the coming week.
Based on two production lines and the total production capacity of 900,000tpy, they would produce around 70,000t this month, similar to last month and hold no stock now. They produced over 150,000t so far this year and around 500,000t in 2023.
An aluminum smelter in Xinjiang confirmed that the best purchase price for alumina 98.5%min they received now keeps at around RMB3,600/t (USD500/t) delivered T/T including the freight of RMB290/t (USD40/t), less than the price of RMB3,660/t (USD508/t) delivered T/T in the middle of last month. "We do not plan to place a new order in the coming two months, as the price might slip to around RMB3,500/t (USD486/t) delivered by late this month for the weakening demand," said the source, who previously ordered around 10,000t in late January at RMB3,650/t (USD507/t) delivered T/T and forecasts stable mainstream prices in the coming week.
The aluminum smelter, with the annual alumina consumption capacity of 1.8 million tonnes, used around 130,000t of alumina last month and the volume might keep stable this month, with present stocks around 80,000t. They consumed over 1.5 million tonnes last year and around 250,000t during the first two months of this year.
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