The alumina price on the Chinese spot market is likely to break through this year's peak and move up even further in response to the local authorities' investigation into Xinfa Group regarding the chemical leakage in its alumina smelters in Xiaoyi city, Shanxi province in China, sources told Fastmarkets on May 10.
"The sentiment has become totally different compared with two days ago and we have seen offers run 10-20 yuan higher based on yesterday's deal price of 2,850 yuan [$417.98] per tonne. This case could have a huge impact on the alumina market because Xinfa is a big producer of alumina in the northern region," a trade source in north China said.Fastmarkets latest assessment of the price for Chinese metallurgical-grade free market alumina, delivered duty paid, was...