Chemical News
-
China's Henan alumina price drops Yuan 30 to Yuan 2,520/mt
http://www.chemnet.com May 20,2015 Platts
The Platts ex-works Henan spot alumina assessment was Yuan 2,520/mt ($412/mt) Tuesday for 70:30 cash and credit payment terms, down Yuan 30 from Monday.
The current price is also down Yuan 60 from last week and from a month earlier.
One Henan refiner said Tuesday he was offering Yuan 2,500-2,520/mt cash for end-May spot delivery, while another quoted Yuan 2,500/mt for June spot this week.
Both agreed tradable levels stood at Yuan 2,480-2,490/mt depending on quantity and terms, but said they had not sold at those levels.
"I've heard trades are already being done at Yuan 2,480/mt cash now, though we are not selling at those levels yet...maybe for June spot," the first refiner said.
Two traders and a Henan smelter also pegged Henan spot prices at Yuan 2,480/mt cash Tuesday.
Pressure from lower spot prices traded in neighboring Shanxi province recently prevailed, and was expected to result in a continuing downtrend for China's alumina prices in the near term, multiple market participants said.
Major refiners Xinfa Group and Jinjiang Group had sold at Yuan 2,450-2,490/mt cash to partial credit basis ex-works Shanxi in the past week, down from a previous Yuan 2,500-2,520/mt.
On Tuesday, ex-works Shanxi spot alumina prices were rangebound.
Down south in Guangxi, spot alumina prices have also fallen Tuesday to a range of Yuan 2,380-2,400/mt cash from Yuan 2,400-2,440/mt, sources said.
"We are now offering Yuan 2,400-2,420/mt cash, down from Yuan 2,450/mt," a source close to Guangxi refiner Huayin Aluminium said.
The front-month June aluminum contract on the Shanghai Futures Exchange closed at Yuan 13,170/mt, down from Yuan 13,260/mt last week.
Print | 
add to Favorites | 
Close
International Chemical Exhibition
-
Advertisement
-
