Alumina Prices Go Down in Australia and China

According to data on June 3, Australia alumina valuation decreased by $1 a day, around $249 per ton, FOB benchmark, as the market supply continues to change from being tightening to become better.

Traders says that they have heard that the price for 30000-ton cargo is $249 per ton, FOB WA benchmark, and the shipping date is in early July.

But in the whole week, China's demand is relatively sluggish for the imported cargo.

According to sources, domestic alumina is more readily available, along with the substantial depreciation of renminbi, which makes Australia and India alumina prices more expensive, so it is not attractive for buyers.

Last week, China's domestic alumina prices decreased by 20 yuan, dragged down by stocking up of refineries.

Compared to last month, sufficient inventory seems to be the same in the western hemisphere.

Besides, bauxite’s lower prices prompt global alumina producers to increase their working rate.

On June 3, the factory price of Shanxi spot alumina decreased by 10 yuan. The quote is 1970 yuan per ton in cash, decreasing by 20 yuan than the price on May 27, and 25 yuan than a month ago.

Market participants say that in Shanxi, the quote is 1990-2020 yuan per ton in full cash, and buyers’ offer is about 1950 yuan per ton.

Sources say that unless metal prices are tumbled, alumina prices may be in the range of 1950-2000 yuan per ton in the short term.