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China's Spot Alumina Prices Stuck in Fluctuating Region

According to the latest news, many alumina manufacturers express that China's spot alumina prices are stuck in the range fluctuations on Friday, and the outlook remains bleak.

From: iAbrasive.comDate: 2015-08-25 08:08:53Views: 338

According to the latest news, many alumina manufacturers express that China's spot alumina prices are stuck in the range fluctuations on Friday, and the outlook remains bleak. It could soon test lower price because the domestic price of metals continue to drop off and it is expected that aluminium smelter will reduce in production.

Some traders says, "It is now a buyer's market, and there are a large number of inventory in the market, whatever domestic and import alumina. Now we must pay attention to whether smelters will reduce in production again, and how much they will reduce the yield."

The factory price of Henan spot alumina is based on 70:30 cash and loan payment conditions. On Friday, it quotes about 2340 RMB ($366) per ton, which flats the quotation on Thursday, but it has fallen 10 -20 RMB from last week and a month ago.

Two henan refineries express that the spot alumina is quoted at 2350 RMB per ton on Friday, based on 30-50% of the loan payment terms, and the loans in full is 2360 RMB per ton.

A smelter in Henan said that they have passed full loan payment to buy 10000 tons of alumina earlier this week, whose price is 2360 RMB per ton.

The refineries and smelters both said a full cash price of alumina is about 2300-2320 RMB per ton, which depends on the quantity and the terms and conditions.

Shanghai Futures Exchange said the aluminum futures contracts are quoted and closed at $11955 per ton on Friday, less than 12030 RMB of a week ago, and also below 12370 RMB of last month.

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