Shanxi alumina slips on weak metal prices, as supply seen rising

摘要

The Platts daily Shanxi alumina assessment slipped a further Yuan 20/mt ($2.90) Friday to Yuan 2,750/mt ex-works in cash, after dropping Yuan 50/mt Thursday. The current price is down Yuan 125/mt from on June 21and Yuan 350/mt from a month ago. Continued talks of 50,000-80,000 mt of spot alumina booked in the past week at Yuan 2,750/mt, cash-to-partial credit terms, remained the strongest factor weighing on the market this week, sources said. Low domestic aluminum prices and anticipated supply increase from idled capacity restarts also dampened the sentiment, market participants said.