Alumina deals in China become thin
2023-03-14 08:22:30 [Print]
BEIJING (Asian Metal) 14 Mar 23 - Over the past two weeks, alumina deals on the spot market turned quiet, as aluminum smelters became prudent in new orders. Prices for alumina 98.5%min in China now keep at RMB2,840-2,940/t (USD413-427/t) EXW, unchanged from late last week and end users anticipate lower prices late this month.
An alumina producer from Shanxi reported that most regular end users now watch the market for lower prices and they did not close any new deals after early March. "We lately sold around 10,000t of alumina 97.5%min at around RMB2,950/t (USD429/t) EXW early this month and now offer around RMB2,940/t (USD427/t) EXW," said the source, who anticipated that prices might slip in the coming two weeks for the weak demand.
With one production line and the production capacity of 900,000tpy, they produced close to 40,000t last month and might produce 30,000t in March as they cut production from early this month and hold no stock now. They produced around 500,000t in 2022 and over 90,000t so far this year.
An aluminum smelter from Qinghai confirmed that they do not plan to place a new order in the coming two weeks as prices might slip. "We lately ordered over 10,000t of alumina 98.5%min at around RMB2,960/t (USD430/t) EXW early this month," said the source, who is not ready to accept the present offer of around RMB2,950/t (USD429/t) EXW and plans to reduce alumina inventories.
The consumer, with the consumption capacity of 240,000tpy, would use over 19,000t this month, similar to last month and holds around 10,000t in stock now, less than15,000t late last month. They consumed over 200,000t in 2022 and over 50,000t so far this year.
An alumina producer from Shanxi reported that most regular end users now watch the market for lower prices and they did not close any new deals after early March. "We lately sold around 10,000t of alumina 97.5%min at around RMB2,950/t (USD429/t) EXW early this month and now offer around RMB2,940/t (USD427/t) EXW," said the source, who anticipated that prices might slip in the coming two weeks for the weak demand.
With one production line and the production capacity of 900,000tpy, they produced close to 40,000t last month and might produce 30,000t in March as they cut production from early this month and hold no stock now. They produced around 500,000t in 2022 and over 90,000t so far this year.
An aluminum smelter from Qinghai confirmed that they do not plan to place a new order in the coming two weeks as prices might slip. "We lately ordered over 10,000t of alumina 98.5%min at around RMB2,960/t (USD430/t) EXW early this month," said the source, who is not ready to accept the present offer of around RMB2,950/t (USD429/t) EXW and plans to reduce alumina inventories.
The consumer, with the consumption capacity of 240,000tpy, would use over 19,000t this month, similar to last month and holds around 10,000t in stock now, less than15,000t late last month. They consumed over 200,000t in 2022 and over 50,000t so far this year.
