China alumina price continues downtrend after Xinfa’s closure - sources

The Chinese alumina market’s material supply has not been affected by the full production stop at Xinfa Group’s Jiaokou refinery and has showed no sign of tightness until now, sources told Fastmarkets.

China’s alumina price continued its downward trend with the highest deal heard at 3,050-3,070 yuan ($441-444) per tonne on Monday June 10, despite predictions that the domestic alumina price may rebound after Xinfa’s Jiaokou smelter totally stopped production at the beginning of June, sources said. Fastmarkets’ latest assessment of the price for Chinese, free market, metallurgical grade alumina, delivered duty paid, was at 2,980-3,100 yuan per tonne on June 6, down from 3,050-3,160 yuan per tonne on May 30, yet 11.3% higher than the beginning of May when it stood at 2,700-2,800 yuan per tonne. “I don’t think the market is lacking material after Xinfa’s Jiaokou plant fully halted production last week. Although there might be some supply gaps in the market, domestic alumina traders have a lot of material in hand. If they released those stocks, the...

Published

Hui Li

June 10, 2019

12:05 GMT

Shanghai