Alumina market expected to grow further

Alumina production in China is expected to continue to decline in the coming heating season. Alumina producers in Henan Province have been asked by the local government to reduce energy consumption. Together with the flooding in Shanxi Province, which has caused alumina production stoppages, and due to difficulties in sourcing raw materials such as bauxite, alkali and coal, alumina prices are expected to rise further. In addition, demand for aluminium products continues to be unbroken.

Stainless steel prices rise again

Due to the increase in nickel prices, stainless steel futures on the SHFE have reacted accordingly and have risen. Stainless steel prices have also increased on the Chinese spot market.

US stainless steel scrap prices also rise

Stainless steel scrap prices continue to rise in the United States. The main reasons are tight availability and rising nickel prices. For the United States, which mainly relies on the production of steel from Electric Arc Furnaces (EAFs), scrap prices are essential. Rising prices for stainless steel scrap were also reported in the EU.