Ore Market: As of February 18, the SMM Imported Bauxite Index was reported at USD 98.23 per tonne, flat compared to the previous trading day. The SMM Guinea Bauxite CIF average price was USD 97 per tonne, also unchanged from the previous trading day.
Industry Updates:
1. On February 18, transactions of 84,000 tonnes of alumina were recorded in Shandong at a transaction price of RMB 3,340-3,350 per tonne. In Henan, 3,000 tonnes of spot alumina were transacted at a price of RMB 3,400 per tonne.
2. According to SMM, starting February 19, a major alumina refinery in Shandong adjusted its purchase price for 32 per cent ionic membrane liquid caustic soda, reducing it by RMB 20 per tonne from RMB 930 per tonne to RMB 910 per tonne on an ex-factory two-invoice basis (equivalent to approximately RMB 2,844 per tonne on a 100 per cent basis).
Spot-Futures Price Spread Daily Report: According to SMM data, on February 18, the SMM Alumina Index showed a discount of RMB 91 per tonne against the most-traded contract's latest transaction price at 11:30.
