DAILY: Chinese spot alumina prices near 6-month low

The overall decline was largely the result of lower trading and offering prices recorded in most of China's five alumina production bases, where the spot markets remained buyer-dominated, according to market watchers. 

In the Guangxi autonomous region and Guizhou province, the assessed prices for the same grade on Monday decreased by Yuan 20/t from Friday to Yuan 2,980/t and Yuan 3,000/t respectively, while those in Shanxi province slid by a smaller Yuan 5/t to Yuan 2,850/t. In contrast, those in Shandong and Henan provinces held steady on day at Yuan 2,795/t and Yuan 2,865/t, respectively.  

On the first working day of the week, some primary aluminum smelters continued routine restocking in the spot market and pushed for lower transaction prices. Meanwhile, some alumina producers and traders showed price flexibility as their profit margins threatened to dip below the breakeven point, market sources learned.

In the domestic spot market, Mysteel heard of one tender concluded on Monday in the Xinjiang autonomous region, where a smelter purchased 10,000 tonnes of spot alumina sourced from North China at a delivered price of Yuan 3,110–3,130/t, including freight costs and the 13% VAT.

Meanwhile, the alumina futures market in Shanghai continued to lose ground yesterday. The most-traded alumina contract for January 2026 delivery on the Shanghai Futures Exchange (SHFE) fell by 0.75% by the end of Monday's daytime session and dropped by a further 0.18% to close nighttime trading at Yuan 2,780/t as of 1 a.m. Tuesday, according to the SHFE data.

Written by Iris Pang, pangjunyu@mysteel.com