Demand from China continues to push alumina prices upward

May 20, 2020 / www.metalbulletin.com / Article Link

Alumina prices on an fob Australia basis continued to climb over the past week with buyers from China happy to pay above market levels to import cargoes, Fastmarkets heard on Tuesday May 19.

"The stronger aluminium prices and demand in China are propping up the international price of alumina," a trader said. "Plants are restarting and life is getting back to normal there, after the [Covid-19 pandemic] lockdown."
A fresh deal was concluded for Western Australia-origin alumina at $267 per tonne cif main China ports, with a differential to the corresponding fob Australia price of $15 per tonne for freight.
The price was significantly higher than in the latest deal for Western Australian material, which was concluded on May 16 at $245 per tonne fob Australia. That cargo was also said to be destined for China.

"Deals have been taking us by surprise recently," a consumer said. "Logically, we expected alumina prices to settle somewhere around $230 per tonne, but buyers in China always seem content to pay $5 or $10 [per tonne] higher than everyone else. But their demand is strong and...

Recent News

Gold stocks gain even as metal price pulls back

April 29, 2024 / www.canadianminingreport.com

Copper price forecast swinging significantly on shifting outlook

April 29, 2024 / www.canadianminingreport.com

Upgrades continue for 2024 gold price target...

April 22, 2024 / www.canadianminingreport.com

Gold stocks edge up as weak equities offset metal rise

April 22, 2024 / www.canadianminingreport.com

Major investment banks make major gold price upgrades

April 15, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok