Chinese alumina market ‘lights up’ as SHFE aluminium price hits six-month high

Market activity in the domestic Chinese alumina market jumped up in the second half of the week to Thursday July 2 after the Shanghai Futures Exchange aluminium futures price rose to its highest since January 23.

Fastmarkets assessed the alumina metallurgical grade, ddp China price at 2,300-2,330 yuan ($325-330) per tonne on Thursday, up from 2,250-2,280 yuan per tonne the week prior.
This is the first upward movement in the price since June 11 for the domestic alumina market, which has been lacking momentum due to its well-supplied fundamentals.
Thursday’s 2.2% increase was attributed to the jump in the SHFE aluminium front month price this week.

The contract rose above 14,000 yuan per tonne on Tuesday June 30 and hit a...

Published

Hui Li

July 03, 2020

11:33 GMT

Shanghai