Alumina Spot Market Sees Sluggish Transactions Overseas Alumina Prices Fall Again as Export Window Closes [SMM Alumina Weekly Review]

게시됨: Mar 6, 2025 16:59

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[SMM Alumina Weekly Review: Sluggish Spot Alumina Market Transactions, Overseas Alumina Prices Fall Further as Export Window Closes] Recently, the tug-of-war between sellers and buyers in the alumina market continued, with sluggish spot alumina transactions and mainly stable spot prices. Overseas transaction prices for alumina fell further, leading to the closure of the domestic alumina export window, making it difficult for subsequent alumina exports to provide sustained demand. On the fundamentals side, there were no reports of large-scale production cuts in operating capacity, and the alumina market maintained a slightly surplus situation. In the short term, spot alumina prices may continue to fluctuate downward.

SMM March 6 Update: Price Review: As of Thursday, the SMM regional weighted index stood at 3,381 yuan/mt, flat WoW. Among them, Shandong region was quoted at 3,340-3,420 yuan/mt, flat WoW; Henan region at 3,360-3,400 yuan/mt, flat WoW; Shanxi region at 3,320-3,380 yuan/mt, flat WoW; Guangxi region at 3,360-3,420 yuan/mt, flat WoW; Guizhou region at 3,370-3,470 yuan/mt, flat WoW; Bayuquan region at 4,210-4,290 yuan/mt. Overseas Market: As of March 6, 2025, FOB Western Australia alumina price was $472/mt, with an ocean freight rate of $20.05/mt, and the USD/CNY exchange rate sell price around 7.25. This price translates to approximately 4,114 yuan/mt for domestic mainstream port selling prices, about 733 yuan/mt higher than domestic alumina prices, keeping the alumina import window closed. This week, three new overseas spot alumina transactions were reported: 1) On February 28, 30,000 mt of alumina traded overseas at $468/mt FOB Gladstone, Australia, with a shipment period in late April. 2) On February 28, 30,000 mt of alumina traded overseas at $480/mt FOB Brazil, with a shipment period in early April. 3) On February 28, India saw six shipments totaling 180,000 mt of spot alumina trade at 17.15% of LME aluminum price (average of spot and 3-month forward), with a pricing period of M-1, FOB Visakhapatnam, India, with a shipment period from April-September. Domestic Market: According to SMM data, as of Thursday, the national weekly operating rate of alumina remained unchanged at 84.84%. Specifically, the weekly operating rate of alumina in Shandong region stayed at 92.66%; in Shanxi region at 79.00%; in Henan region at 67.62%; and in Guangxi region at 88.26%. During the period, spot alumina trading was sluggish, with spot prices mainly holding steady. An aluminum plant in Xinjiang tendered for some alumina, with transaction prices at 3,610 yuan/mt delivered to the factory; 4,000 mt of spot alumina traded in Guizhou at 3,300 yuan/mt. Overall: Recently, the tug-of-war between sellers and buyers in the alumina market continued, with sluggish spot alumina trading and mainly stable spot prices. Overseas alumina transaction prices further declined, and the domestic alumina export window remained closed, making it difficult for subsequent alumina exports to provide sustained demand. Fundamentals side, no large-scale production cuts in alumina operating capacity were heard, and the alumina market maintained a slight surplus, with spot alumina prices expected to fluctuate downward in the short term. Source: SMM 》Click to view the SMM Aluminum Industry Chain Database

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