SHANGHAI (SMM): Chinese price for alumina on term contract has gone down by 50 yuan per ton to 2,250 yuan ($364) per ton, according to Shanghai Metals Market’s pricing data.
The price decline is due largely to weak aluminum prices on Shanghai Futures Exchange (SHFE) to which the term alumina price is referenced, SMM understands.
As Chinese alumina producers typically use a mix of spot and term sales, SMM foresees a drop in term sales as the current term price has fallen below spot prices.
On April 22, alumina prices on spot basis were 2,400 yuan per ton in Shanxi, and 2,180 yuan per ton in Guangxi, and sales in Shandong and Henan were heard at 2,450 per ton.
Source: Shanghai Metals Market
