Chinese alumina market continues to be slow

The Chinese market for alumina remains slow as the trading remained lukewarm with expectations of better demand in the coming weeks.

The domestic spot prices for alumina hovered around 2,650-2,730 yuan per tonne as on Friday January 23, while the three-month aluminium contract on the Shanghai Futures Exchange dipped by 5 yuan per tonne from last week ending at 12,935 yuan per tonne.

Chalco did try to start a campaign along with other players in the industry to boost prices, not many are hopeful about the success of the campaign as the downstream buyers are not interested in buying raw materials.

The upcoming Chinese New Year Holiday, from February 18-24, is also dragging the market to a snail’s pace and the weather is likely to clear once the holiday passes.

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