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Domestic Spot Price of Alumina Fell Into the Range of Fluctuations

Domestic spot prices this week fell into the range of volatility, market participants waiting for a more clear direction, due to the continued weakness of domestic aluminum prices and market volatility. Sources pointed out that some of the August delivery of the spot negotiations have been launched, but the lack of actual trade volume. Shanghai futures exchange in recent months August period of aluminum contract closed at 12245 yuan per ton on Friday, less than 12465 yuan on Friday, a month before the 12745 yuan.
 
Based on the 70:30 payment terms, the Henan area of the ex factory price of the ex factory price of 2360 yuan per ton ($386), unchanged from Thursday and a week ago, but fell 40 yuan a month ago.
 
Spot trading this week slowed down, due to the overall market sentiment remains weak, is expected to lower the price of alumina in the short term will be lower priced.
 
Letter of the group in August the spot price of aluminum 2330-2350 yuan per ton, is expected to reach a transaction price of 2300-2330 yuan per ton.
"Is widely expected to offer Jinjiang Group is lower than that of other manufacturers, this is their usual style, so each people are waiting for their offer, but has yet to have a any wind," Shanxi another Refinery, the sources said.
 
In the southern region of Guangxi, spot alumina prices the same interval fluctuations, heard Huayin Aluminum and Guangxi letter sent aluminium prices held steady at 2300 yuan per ton.
 
Can be reached a transaction price is expected to be 2250-2280 yuan per ton, but the actual transaction is limited.
 
"The market is still going down, so people don't rush to buy, it's too scary, everyone will wait and see," said the source of a smelter in Northeast China.

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