Prices for alumina averaged USD 340 per metric ton in September, 0.4% higher than August’s price and up 0.6% year on year. On 29 September, alumina traded at USD 341 per metric ton, down 0.6% month on month.
Prices edged up in September, spurred by sturdier demand from aluminium smelters. In August, aluminium output rose to an all-time high on the back of a healthier hydroelectric supply in China. Moreover, a rebound in the country’s manufacturing PMI in September added further impetus to industrial demand. Nonetheless, softer manufacturing momentum in the Eurozone, Japan and the U.S.—signaled by negative PMIs—likely capped price gains.
Alumina COMEX (prices in US$/mt, aop)
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