China alumina price drops 4% on smelter capacity closures

The Chinese alumina price dropped sharply on Thursday March 26 on shrinking demand from aluminium smelters, several of whom put part of their capacity on maintenance to avoid further losses.

Fastmarkets' alumina metallurgical grade, ddp China price fell to 2,380-2,420 yuan ($335-341) per tonne on Thursday, from 2,450-2,550 yuan per tonne a week earlier and a year-to-date high of 2,620-2,540 yuan per tonne on March 5.
The 4% week-ok-week drop was attributed to aluminium smelter capacity closures and expectations of further shutdowns.
One such shutdown was China's Jisco, which started to place its smelters on maintenance following a multi-year low aluminium price on the Shanghai Futures Exchange, sources told Fastmarkets on March 25.

"We have no plan to buy alumina from the spot market within the short term as we expect the price to go down further on weaker...

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