The average alumina spot price in China has been on a growth streak for the past few weeks, owing to the raw material supply dearth. The implications of the Guinea Fuel Blast have been loud and clear, which suggests that China imports most of its raw ore from the African Country.
Moreover, China’s raw material market has been facing some complications due to the closures of bauxite mines and alumina refineries following Government-induced inspections. As per the data flashed by SMM, due to the above constraints, more than 6 million tonnes of alumina was negated from the existing repository.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
