MYMETAL: China’s Al prices rebound, alumina cost up
Aug 26, 2020 11:30
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China’s national price of the 99.7% aluminum ingot recovered Yuan 245/tonne ($35/t) on week to Yuan 14,673/t including 13% VAT after having spiralled down over July 30-August 17, mainly on the support of higher alumina prices and low level of ingot stocks, according to the market survey of Mymetal, Mysteel’s nonferrous metal data collection arm.
As of August 24, China’s national alumina price rebounded Yuan 37/t on week to Yuan 2,448/t including 13% VAT,after having been on the downtrend over July 24-August 18,as alumina supply in global marketeased, according to weekly report of Mymetal.
Norsk Hydro, Norway’s global aluminum producer, announced to cut operating capacity of