China alumina prices rise despite falling metal prices

Platts reported that alumina prices ex-works Henan had risen by Yuan 20/mt from Friday to Yuan 2,600/mt ($423/mt) for 70:30 cash and credit payment terms.

Spot trades however were scarce on Tuesday due to a slip in aluminium metal prices. The maketsmen however are not worried by the dip as there is an anticipated restocking demand ahead with the approaching winter and fourth quarter. The sources said that the dip in metal price is technical correction in light of recent highs and is not too surprising.

The high refiners’ offers heard on Tuesday across the country, confirms that the alumina is still strong. In Henan the offers rose from Yuan 2,600/m to Yuan 2.620-2,670/mt cash to partial credit terms. The Shanxi offers also rose from Yuan 2,600/mt to 2,640-2,700/mt while Guangxi claimed Yuan 2,450-2,460/mt as opposed to last week’s Yuan 2,400/mt.

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