DAILY: Chinese spot alumina prices largely mark time

On Monday, Mysteel assessed the national average spot price for metallurgical-grade alumina with a purity above 98.6% at Yuan 2,867/tonne ($403/t) including 13% VAT. This marked the third consecutive working day of price stability, reflecting similar steadiness across China's five major alumina-producing regions.

Spot prices in Shandong, Henan, Shanxi, Guizhou and the Guangxi autonomous region had all held firm for the third straight day, ranging between Yuan 2,780-2,945/t yesterday.

To kick off the week, some primary aluminum smelters entered the spot market to replenish inventories. While some buyers sought lower-priced deals, others accepted higher offers due to rising transportation costs.

On Monday, Mysteel learned of two transactions involving a total of 13,000 tonnes of alumina. In Yunnan province, a smelter purchased 3,000 tonnes of Guangxi-origin alumina from a trader at Yuan 2,870/t ex-works including VAT -- Yuan 20/t lower than a similar deal on November 10.

Meanwhile, in the Xinjiang autonomous region, another smelter bought 10,000 tonnes from a trader at a delivered price of Yuan 3,130-3,140/t including freight and VAT. That was Yuan 10/t higher than a comparable deal last week due to rising transportation costs from the rail yard to the plant. The buyer also requested the use of electric vehicles for transport, further adding to delivery costs, according to market sources.

In contrast, Chinese alumina futures continued to weaken. The most-traded January 2026 contract on the Shanghai Futures Exchange fell 0.7% during the Monday daytime session and a further 0.36% overnight, closing at Yuan 2,790/t by 1 a.m. on Tuesday.

Written by Iris Pang, pangjunyu@mysteel.com

Edited by Vivian Yang, yangzhenqi@mysteel.com