Several alumina operations in eastern and northern China, including China Hongqiao Group’s facility in Shandong province that is said to be suffering from severe flooding caused by Super Typhoon Lekima
, are reportedly operating at reduced rates.
“It seems the alumina market gained some strength from those production cuts. And Hongqiao Group suffering from the flood was further encouragement [for producers to raise their offer prices],” a trader told Fastmarkets on the sidelines of an alumina conference in the Chinese city of Guiyang on Wednesday.
“On Monday, offers were mostly around 2,500 yuan per tonne while [on Tuesday] I heard they had increased to 2,560 yuan per tonne,”...