Prices for alumina averaged USD 348 per metric ton in May, which was down 2.9% from April’s price and was 5.0% lower than in the same month last year. On 31 May, alumina traded at USD 342 per metric ton, which was 4.0% lower than on the same day of the previous month.
Prices lost ground in May as increased supply stemming from new alumina projects in China dented prices. Additionally, downbeat industrial momentum in May in the Eurozone and the U.S.—signaled by negative PMI readings—likely weighed further on prices. That said, in April, aluminum production in China rose and is set to increase further in the coming months, which will support demand for alumina to some extent.
This chart displays Alumina (US$/mt) from 2021 to 2023.
Alumina COMEX (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Alumina COMEX | - | 277 | 316 | 417 | 411 | 377 | 339 | 319 |