Fastmarkets’ weekly price assessment for alumina, metallurgical grade, ddp China
, was 2,350-2,420 yuan ($364-374) per tonne on Thursday, up from 2,320-2,370 yuan per tonne a week earlier.
Market participants told Fastmarkets that there were restrictions on travel in Hebei in Northern China
due to rising numbers of Covid-19 cases. These transportation issues have created difficulties for buyers in getting alumina material which was linked to long-term contracts.
“We have bought 20,000 tonnes at 2,420 yuan per tonne from a supplier nearby,” one alumina buyer in Western China said. “This was a recent decision, because our long-term contract material from [sources further afield] can’t get to our factory on time due to the slow transportation.”
Market sentiment was bullish in an active market over the past week, and triggered more buying by consumers which were worried about further transport problems because of the Chinese...