Alumina price rise continues, but will it sustain? SMM doubts

Alumina is on an uptrend across major Chinese markets. However, analysts at the Shanghai Metals Market (SMM) warn it is too early to rejoice. According to them, the recent price gains are being driven mainly by the alumina refineries holding back alumina stocks and traders coming in numbers with growing enquiry volumes.

Market trend says, trading has not been very active. Aluminium smelters are sitting pretty with enough raw material stocks and hence, are not in a rush to make immediate purchases, SMM learned.

Analysts expect alumina prices to plateau near the current levels in the short term. For there to be any further spike, aluminum smelters have to speed up their raw material buying procedures, SMM added.

According to the latest SMM data, alumina weighted average price in China’s four major markets in the week ending August 26, was 1,842 yuan per tonne.

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.