DAILY: Chinese alumina prices inch higher in spot, futures markets

Chinese prices for both spot alumina and futures contracts largely inched higher on May 29, as the potential tighter supply of imported bauxite from Guinea continued to fuel optimistic sentiment among market participants.

Mysteel assessed the national average price for metallurgical-grade alumina with a minimum purity of 98.6% at Yuan 2,707/tonne ($400/t) last Friday, higher by another Yuan 3/t on day. The further increase was mainly driven by stronger alumina prices in three of China's five major alumina production bases. The assessed prices for the same