Alumina prices in China down
2023-03-02 08:30:17 [Print]
BEIJING (Asian Metal) 2 Mar 23 - Over the past two weeks, the purchase demand for alumina softened, leading to reduced prices
An aluminum ingot smelter from northwest China reported that they ordered around 5,000t of alumina 98.5%min on Wednesday at around RMB3,200/t (USD466/t) delivered, down by RMB10/t (USD1.4/t) from one week ago for the same purchase volume, including the freight over RMB200/t (USD29/t) . "I think the price would go down further in the coming two weeks, as our regular suppliers from Henan increased production," said the source, who usually orders around 10,000t for each contract but cut the volume from last week.
With the consumption capacity of 500,000tpy, the consumer used over 35,000t in February, down from around 37,000t in the previous month and holds over 19,000t in stock now. They used around 450,000t in total last year.
An alumina producer from south China confirmed that they sold around 5,000t of alumina 98.5%min one day ago at around RMB2,850/t (USD415/t) EXW, compared with over RMB2,900/t (USD422/t) EXW for the same quantity one month ago. "We now offer RMB2,850/t (USD415/t) EXW but buyers request lower prices," said the source, adding that most of their buyers from Yunnan would cut more production for the power shortage and prices might go down further two weeks later.
The alumina producer, with the annual production capacity of 2.3 million tonnes and five production lines, would produce around 180,000t in March, similar to last month and holds no stock now . They produced over 2 million tonnes in 2022.
. Present mainstream prices for alumina 98.5%min in China stand at RMB2,850-2,950/t (USD415-429/t) EXW, down by RMB20/t (USD3/t) from early this week . Both buyers and sellers anticipate less prices in the coming two weeks for the shrinking demand.
An aluminum ingot smelter from northwest China reported that they ordered around 5,000t of alumina 98.5%min on Wednesday at around RMB3,200/t (USD466/t) delivered, down by RMB10/t (USD1.4/t) from one week ago for the same purchase volume, including the freight over RMB200/t (USD29/t) . "I think the price would go down further in the coming two weeks, as our regular suppliers from Henan increased production," said the source, who usually orders around 10,000t for each contract but cut the volume from last week.
With the consumption capacity of 500,000tpy, the consumer used over 35,000t in February, down from around 37,000t in the previous month and holds over 19,000t in stock now. They used around 450,000t in total last year.
An alumina producer from south China confirmed that they sold around 5,000t of alumina 98.5%min one day ago at around RMB2,850/t (USD415/t) EXW, compared with over RMB2,900/t (USD422/t) EXW for the same quantity one month ago. "We now offer RMB2,850/t (USD415/t) EXW but buyers request lower prices," said the source, adding that most of their buyers from Yunnan would cut more production for the power shortage and prices might go down further two weeks later.
The alumina producer, with the annual production capacity of 2.3 million tonnes and five production lines, would produce around 180,000t in March, similar to last month and holds no stock now . They produced over 2 million tonnes in 2022.