Alumina prices in China rebound
2024-04-17 08:29:54 [Print]
BEIJING (Asian Metal) 17 Apr 24 - The demand for alumina from south China improved since one week ago and alumina prices rebound now. Current mainstream prices for alumina 98.5%min in China stand at RMB3,250-3,350/t (USD449-463/t) EXW, up by RMB10/t (USD1.4/t) from late last week and market participants predict higher prices in the coming two weeks due to the strong demand.
A Shandong-based alumina 98.5%min producer reports that they now maintain the best price of RMB3,260/t (USD450/t) EXW and sold around 20,000t late last week at around RMB3,250/t (USD449/t) EXW. "We received around nine inquiries from south China over the past week, doubled than the previous week," says the source, who predicts that mainstream alumina prices would reach around RMB3,280/t (USD453/t) in the coming week and holds no stock now.
Based on two production lines and the total production capacity of 1.4 million tonnes per year, they produced around 116,000t in March and the volume might remain stable this month. They produced around 350,000t during the first three months of this year and over 1.3 million tonnes in 2023.
Another alumina producer in Shandong confirms that they sold around 5,000t of alumina 98.5%min at RMB3,259/t (USD450/t) EXW early this week and now quote RMB3,300/t (USD456/t) EXW as the best price. "We do not want to sell now as I think the price would reach around RMB3,300/t (USD456/t) EXW in the coming two weeks," says the source, noting that purchase inquires from south China increased by 50% from one week ago and they received three so far this week.
With the annual production capacity of 2 million tonnes and four production lines, they might produce 166,000t in April, the same as last month and hold no stock now. They produced around 500,000t so far this year and around 1.6 million tonnes in 2023.
A Shandong-based alumina 98.5%min producer reports that they now maintain the best price of RMB3,260/t (USD450/t) EXW and sold around 20,000t late last week at around RMB3,250/t (USD449/t) EXW. "We received around nine inquiries from south China over the past week, doubled than the previous week," says the source, who predicts that mainstream alumina prices would reach around RMB3,280/t (USD453/t) in the coming week and holds no stock now.
Based on two production lines and the total production capacity of 1.4 million tonnes per year, they produced around 116,000t in March and the volume might remain stable this month. They produced around 350,000t during the first three months of this year and over 1.3 million tonnes in 2023.
Another alumina producer in Shandong confirms that they sold around 5,000t of alumina 98.5%min at RMB3,259/t (USD450/t) EXW early this week and now quote RMB3,300/t (USD456/t) EXW as the best price. "We do not want to sell now as I think the price would reach around RMB3,300/t (USD456/t) EXW in the coming two weeks," says the source, noting that purchase inquires from south China increased by 50% from one week ago and they received three so far this week.
With the annual production capacity of 2 million tonnes and four production lines, they might produce 166,000t in April, the same as last month and hold no stock now. They produced around 500,000t so far this year and around 1.6 million tonnes in 2023.
