Mysteel: China's spot alumina prices extend losses on expanding surplus

On September 12, Mysteel daily assessments for Shanxi spot alumina were Yuan 3,000-3,040/t, EXW and including VAT, down Yuan75/t from a week ago, and assessments for Guangxi spot cargo were Yuan3,190-3,250/t, down Yuan45/t from the previous week. SHFE most-traded contract closed at Yuan2,914/t, down Yuan92/t on week.

China's alumina market continued the downward trajectory last week driven by oversupply. According to Mysteel's tracking, some smelters purchased spot alumina through tenders with lower transaction prices last week, weighing on the spot market and driving spot prices down further. Data: Mysteel On the supply side, Chinese alumina producers mostly remained