Chinese alumina refiners looking to raise spot offers

The Chinese alumina refiners met at a local industry last week to discuss and consider raising the spot offers in the near term as the demand is stead and spot supply is limited. Although most agreed on the proposition there is no proof of higher offers noticed till Monday.

A source from the major Shanxi refiner, Xinfa Group, said that they to have heard of the plan but there are no official notice yet so their quotes remained unchanged at Yuan 2,800/mt cash minimum. However, they agree that there are possibilities of a raise in the future considering the market situation. They too are planning to raise their quotes slightly to Yuan 2,900/mt.

Since there are no smelter cuts, there is a steady demand and this is a usually a restocking period it is a good time for prices to rise. Although some are inching towards Yuan 2,900/mt, no one is attempting to do anything bold as they are all waiting for someone to take the first move.

"We've also heard about the talks to lift offers at the event, and we're now just waiting to see who will make the first move and by how much, before we consider revising our offers," a Luneng Jinbei source said.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.