According to the Shanghai Metals Market data, China's average alumina spot price has gained RMB 5 per tonne over the weekend to reach RMB 3,351 per tonne on Monday, January 29. The price stands at its highest point in the past two years. December 2, 2021, was the last time the Chinese alumina spot price stood at RMB 3,351 per tonne.
On a month-on-month calculation, the domestic alumina spot price is up by 7.44 per cent from RMB 3,119 per tonne.
In Shandong and Henan, the alumina price has increased by RMB 10 per tonne to stand at RMB 3,260 per tonne and RMB 3,380 per tonne, respectively, with average prices estimated to range between RMB 3,220-3,300 per tonne and RMB 3,340-3,420 per tonne.
However, the Australian alumina FOB price has continued to remain restrained at US$373 per tonne since January 19.
