FOCUS: Excess supply to limit China alumina market recovery - sources

The Chinese alumina price recently reached a floor and began entering into a rebound on the spot market, however, excess market supply has limited the uptrend, market participants said.

“The bearish news of large quantities of imported material continuing as well as an oversupplied domestic market have been digested by the market already so we assume the price will enter an upward trend from now on,” an alumina analyst in Beijing said.
Fastmarkets’ weekly price assessment of alumina metallurgical grade, ddp China climbed to 2,340-2,480 yuan ($337-357) per tonne on Thursday January 9, up by 10 yuan per tonne from 2,330-2,470 yuan per tonne the week before.

This is the third consecutive week of price increases after the price hit its lowest since May 22, 2017 at 2,300-2,420 yuan per tonne on December 19, 2019. But the rate of acceleration appeared to be slowing down, with the price moving up by 35 yuan per tonne to reach 2,330-2,460 yuan per tonne on December 27 from 2,300-2,420 yuan per tonne on December 19 on its first...

Published

Hui Li

January 09, 2020

15:45 GMT

Shanghai