Asian Metal News
Mainstream domestic alumina prices currently stand at RMB2,070~2,120/t, down by RMB50/t from Friday 10th April. Most domestic alumina refiners have been reluctant to sell amid rapidly falling alumina prices over the past two weeks. However, domestic smelters remain watchful, resulting in a stagnating market. Market commentators forecast domestic alumina prices will continue to fall slightly next week in light of weak aluminium prices.
In the northern market, one trader received quotations for 3 kt of alumina at RMB2,100/t, down by RMB50/t from last week. The trader declined the deal in anticipation of prices falling further. Most domestic refineries guarantee long-term contract deliveries and are presently declining spot sales.
In the eastern market, a trader reported the lowest alumina quotations at RMB2,090/t, down by RMB50/t from last week. The trader sold 10 kt of alumina at RMB 2,400/t in mid-March. According to the trader, most refineries are holding firm on prices, and they intend to buy alumina next week if the prices fall below RMB2,050/t.