Chinalco may raise alumina offer in the near future

Since August, Shanghai Aluminum has returned to the medium and long-term uptrend in the short term, and the spot price of alumina has continued to rise. Driven by this, Chinalco may raise its offer in the near future and raise the price of alumina to 2,750 yuan / ton.

Recently, domestic aluminum prices have continued to rise, with an average daily price of 50 yuan /

More than tons of gains. The market shows that today (August 13) the average price of Shanghai aluminum is 15,125 yuan / ton, up 1375 yuan from the previous low of 13,750 yuan / ton. The rise in aluminum prices has caused the aluminum plant, which was scheduled to reduce production and limit production in the third quarter, to resume production, thereby increasing the demand for alumina. At present, the domestic alumina spot price is close to 2,800 yuan / ton.
In this regard, China Securities Journal reported that Chinalco (601600.SH/02600.HK) hopes to increase its alumina price by 100 yuan per ton to 2,750 yuan / ton in the near future.

The increase in demand for alumina also boosted imports, and customs figures show that alumina imports totaled 270,000 tons in July, nearly double the 140,000 tons in June. Aladdin, an industry consultancy, said that there is a shortage of alumina supply in the short term, but due to the expected increase in imports, and the new capacity of Chinalco Zunyi, Chinalco Chongqing, Chongqing Bosai, Luneng Jinbei and other enterprises may accelerate the start, there may be oversupply in the future. Case. At present, manufacturers and traders have different views on the market outlook, some have reluctance to sell, and some are speeding up shipments.

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