Prices for alumina averaged USD 359 per metric ton in April, which was down 1.7% from March’s price and was 11.1% lower than in the same month last year. On 28 April, alumina traded at USD 356 per metric ton, which was 2.3% lower than on the same day of the previous month.
Prices declined consistently throughout April. The decrease was driven by expectations of lower demand in China—the largest aluminium producer and consumer—and the closure of certain Chinese aluminium smelters amid power cuts in Yunnan. Depressed demand was illustrated by an unexpected contraction in the Chinese manufacturing PMI in April. Moreover, increased supply from new alumina projects in China in April weighed further on prices.
Alumina COMEX (prices in US$/mt, aop)
|Q1 2021||Q2 2021||Q3 2021||Q4 2021||Q1 2022||Q2 2022||Q3 2022||Q4 2022|