Alumina prices in China show a downward trend
2024-03-22 08:21:12 [Print]
BEIJING (Asian Metal) 22 Mar 24 - Alumina producers in China cut prices over the past two weeks due to the slowing purchase demand and prices remain a downward trend now with present mainstream prices for alumina 98.5%min in China keeping at RMB3,230-3,330/t (USD449-463/t) EXW, down by RMB20/t (USD3/t) from late last week. Market participants predict lower prices in the coming week.
A Shanxi-based alumina producer reported that they now offer RMB3,250/t (USD451/t) EXW but end users request lower prices, while they sold around 3,000t of alumina 98.5%min at around RMB3,350/t (USD465/t) EXW early this month. "End users become inactive in new orders now and I think mainstream prices would drop further in the coming week," said the source, who gets ready to accept new lower prices.
The alumina producer, with two production lines and the total production capacity of 900,000tpy, might produce 70,000t this month, similar to last month and holds no stock now. They produced around 200,000t so far this year and around 500,000t in 2023.
An aluminum ingot producer in Xinjiang confirmed that the best offer for alumina 98.5%min they received now keeps at around RMB3,270/t (USD454/t) EXW, while they believed that the price would reach around RMB3,200/t (USD445/t) EXW late this month as the supply increased. "Over the past two weeks, we received over ten offers, doubled than the normal level, while our inventories increased and we do not plan to buy in the coming month," said the source, who ordered around 10,000t in late January at around RMB3,370/t (USD468/t) EXW.
Based on the alumina consumption capacity of 1.8 million tonnes per year, the aluminum smelter would use around 13,000t in March, the same as last month with present stocks around 90,000t more than the normal level of around 70,000t. They consumed over 300,000t so far this year and around 1.5 million tonnes in total last year.
A Shanxi-based alumina producer reported that they now offer RMB3,250/t (USD451/t) EXW but end users request lower prices, while they sold around 3,000t of alumina 98.5%min at around RMB3,350/t (USD465/t) EXW early this month. "End users become inactive in new orders now and I think mainstream prices would drop further in the coming week," said the source, who gets ready to accept new lower prices.
The alumina producer, with two production lines and the total production capacity of 900,000tpy, might produce 70,000t this month, similar to last month and holds no stock now. They produced around 200,000t so far this year and around 500,000t in 2023.
An aluminum ingot producer in Xinjiang confirmed that the best offer for alumina 98.5%min they received now keeps at around RMB3,270/t (USD454/t) EXW, while they believed that the price would reach around RMB3,200/t (USD445/t) EXW late this month as the supply increased. "Over the past two weeks, we received over ten offers, doubled than the normal level, while our inventories increased and we do not plan to buy in the coming month," said the source, who ordered around 10,000t in late January at around RMB3,370/t (USD468/t) EXW.
Based on the alumina consumption capacity of 1.8 million tonnes per year, the aluminum smelter would use around 13,000t in March, the same as last month with present stocks around 90,000t more than the normal level of around 70,000t. They consumed over 300,000t so far this year and around 1.5 million tonnes in total last year.
