Chinese alumina price retreats following further declines in aluminium futures

The Chinese alumina price edged downward for the first time in four weeks on Thursday March 12, following further declines in aluminium futures over the past week.

Fastmarkets' weekly price assessment for alumina metallurgical grade, ddp China slipped to 2,470-2,570 yuan ($353-367) per tonne on Thursday, down by 50-70 yuan per tonne from 2,540-2,620 yuan per tonne a week earlier.
The latest drop follows four consecutive weeks of price gains that had been fueled by news of production cuts at alumina refineries across China due to difficulty sourcing raw materials and a shortage of labor amid transportation and travel restrictions imposed by the central government to contain the spread of the novel coronavirus (2019-nCoV).

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