Prices for alumina averaged USD 339 per metric ton in August, 2.9% higher than July’s price and up 1.1% year on year. On 31 August, alumina traded at USD 343 per metric ton, up 4.9% month on month.
Prices rose in recent weeks, chiefly on the back of weaker supply in July. In particular, lower output in Oceania and Europe more than offset higher production in China. On the demand side, recent developments have been mixed. Negative PMI readings in China, the U.S. and the Eurozone during August point to subdued industrial demand. That said, aluminium smelters in China’s Yunnan province continued to ramp up production in July and August, boding well for alumina demand.
Alumina COMEX (prices in US$/mt, aop)
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