Alumina prices move up in China
2024-04-25 08:11:49 [Print]
BEIJING (Asian Metal) 25 Apr 24 - The demand for alumina in China remains firm over the past two weeks, while the supply keeps tight. Current mainstream prices for alumina 98.5%min in China keep at RMB3,300-3,400/t (USD455-469/t) EXW, up by RMB40/t (USD6/t) from late last week. Market participants anticipate higher prices in the coming two weeks.
A Shanxi-based alumina producer reports that they now quote RMB3,400/t (USD469/t) EXW as the best price for alumina 98.5%min, up from RMB3,380/t (USD466/t) EXW late last week and sold around 5,000t at RMB3,400/t (USD469/t) EXW early this week. "Although we received new inquiries, we do not have alumina for spot sales now," says the source, who predicts that alumina prices would move up a bit further in the coming two weeks due to the improved demand from northwest China.
The alumina producer, with four production lines and the total production capacity of 2.8 million tonnes per year, would produce around 116,000t this month, the same as last month. They produced around 350,000t during the first quarter of this year and over 1.3 million tonnes in total last year.
A smelter of aluminum in Xinjiang confirms that they ordered around 10,000t of alumina 98.5%min yesterday at around RMB3,620/t (USD500/t) delivered with the freight at around RMB300/t (USD42/t), while the purchase price for the same quantity one week ago kept at around RMB3,600/t (USD497/t) delivered. "We get ready to accept higher alumina prices in the coming two weeks as the supply reduced," says the source, who keeps over 10,000t of alumina in stock now, less than the normal level of around 20,000t.
Based on the annual alumina consumption capacity of 490,000t, they might use close to 40,000t in April, up from around 36,000t in March. They consumed around 100,000t in total during the Q1 this year and around 400,000t totally last year.
A Shanxi-based alumina producer reports that they now quote RMB3,400/t (USD469/t) EXW as the best price for alumina 98.5%min, up from RMB3,380/t (USD466/t) EXW late last week and sold around 5,000t at RMB3,400/t (USD469/t) EXW early this week. "Although we received new inquiries, we do not have alumina for spot sales now," says the source, who predicts that alumina prices would move up a bit further in the coming two weeks due to the improved demand from northwest China.
The alumina producer, with four production lines and the total production capacity of 2.8 million tonnes per year, would produce around 116,000t this month, the same as last month. They produced around 350,000t during the first quarter of this year and over 1.3 million tonnes in total last year.
A smelter of aluminum in Xinjiang confirms that they ordered around 10,000t of alumina 98.5%min yesterday at around RMB3,620/t (USD500/t) delivered with the freight at around RMB300/t (USD42/t), while the purchase price for the same quantity one week ago kept at around RMB3,600/t (USD497/t) delivered. "We get ready to accept higher alumina prices in the coming two weeks as the supply reduced," says the source, who keeps over 10,000t of alumina in stock now, less than the normal level of around 20,000t.
Based on the annual alumina consumption capacity of 490,000t, they might use close to 40,000t in April, up from around 36,000t in March. They consumed around 100,000t in total during the Q1 this year and around 400,000t totally last year.
