SMM data showed that China’s alumina output was 6.42 million mt in May, including 6.21 million mt of metallurgical grade alumina.

Spot transactions in the domestic alumina market improved slightly last week. Traders and downstream producers in north China made purchase, with prices in Shanxi up slightly to 2,340-2,350 yuan/mt. Spot trades remained muted in south China, where trades were mostly under long-term orders. There were few quotations at Bayuquan, and aluminium plants intended to buy at 2,420 yuan/mt.

China’s copper cathode output increased month on month in November as the amount of new capacities continued to rise and as copper smelters stepped up production at the end of the year. In addition, rising inflow of high-quality copper scrap into domestic markets after the secondary copper resource policy took effect from November 1 boosted operating rates at copper scrap smelters.

A brief summary on the other keynote addresses at Shanghai Metals Market's 2020 Nonferrous Metals Industry Chain Annual Conference, which was held in Suzhou on December 3-4.

Prices of minor metals are expected to improve after experiencing the downturn after the Covid-19 pandemic.

The rebound in copper prices was attributable to the recovery of demand and supply trends in China since Q2, said Rio Tinto's Laure Baratgin.

In order to achieve a sustainable future, mining giant BHP urges for greater transparency in the pricing mechanisms in the copper market.

Production cost of global copper ore is expected to rise in the future amid new inflation cycle, lower raw ore qualities and improved concerns on environmental protection and mining safety, according to Yang Bing, SMM consultant.

SMM is the first non-ferrous metal pricing platform in China that has passed the independent audit of the International Organization of Securities Commissions (IOSCO) financial index standard in 2020. This is also the first year that the China leading pricing provider has achieved the ISOCO standards.

Despite the ongoing COVID-19 pandemic and the possible impact of de-globalization, the metals market is likely to face new challenges, especially in the scrap sector, according to commodities veteran Andy Homes.