DAILY: Chinese alumina prices hit over two-year low

China's spot alumina prices headed lower on November 5, with the national average spot price assessed by Mysteel for metallurgical-grade material with purity above 98.6% dropping by Yuan 13/tonne ($1.8/t) on day to sit at Yuan 2,882/t including the 13% VAT, its lowest level since August 2023.

Broad price declines were seen in the country's major alumina-producing hubs, as ample supplies in most of these regions weighed on spot transaction prices of the commodity, market watchers said. Spot prices for the same grade of alumina in the Guangxi autonomous region and Guizhou province decreased by Yuan 30/t and Yuan 20/t on day to