Trading Volume Nearly 3000 Tons on Alumina in Xinjiang Trading Center

On November 18, Xinjiang Silk Road Aluminum Trading Center finished its first deal, and the trading center officially opened. Two deals for alumina and electrolytic aluminum, the transaction volume of alumina is 2793 tons a, about 2780 Yuan per ton, and electrolytic aluminum about 200 tons, 14210 Yuan per ton.

Xinjiang is the forefront that is open to the west China, which is rich in bulk commodity resources, and electrolytic aluminum production capacity accounted for 20% of total national output in 2015. But Xinjiang has not formed special aluminum spot market, unable to form effective pricing mechanism. With the approval of Xinjiang Autonomous Region Government, it founded Xinjiang Silk Road Aluminum Trading Center.

The long-term development goal of Xinjiang Silk Road Aluminum Trading Center is to gather the upstream and downstream aluminum enterprises through the specialized operations, and gradually form “Xinjiang aluminum” index, to establish international voice of Xinjiang electrolytic aluminum.

On the day of first deal, scholars of from the financial industry, university research institutions and representatives of Xinjiang, Henan and other aluminum production enterprises gathered and made a deep discussion about commodity market development present situation, construction planning and other issues.

General manager of Xinjiang Silk Road Aluminum Trading Center, Wang Haidong said in an interview: Commodity pricing power has always been the goal that many countries compete for, and at present,  our pricing power is limited in this respect. In addition to Moscow and Dubai bourse, there is no large commodity trading platform that can cover central Asia and Xinjiang in the middle vast areas. Now, Xinjiang has such a commodities trading center, which can cover central Asia countries and B&R countries, and improve the pricing power and influence of the commodities market in China.

Learn more information about alumina, please make contacts with: Yichuan Dongfeng Abrasives Co.,Ltd., CIPIE(Henan)Import and Export Trade Co.,LTD. and YiChuan County ShengYu Fireproof Material Co., Ltd.