Nov. 4th, 2024 – In October, industrial alumina prices surged by about 930 CNY/T due to tight raw material supply, production limits, and strong demand from the electrolytic aluminum sector. This has pushed WFA market prices to increase by 1000 CNY/T.
The rapid rise in industrial alumina prices has led to a chaotic pricing environment for WFA, with prices ranging from 6,000 to 6,650 CNY/T. Limited supply and environmental restrictions in Henan, have reduced WFA production to 50% capacity, decreasing overall supply.
Buyers are cautious, mainly inquiring about prices rather than purchasing, creating a wait-and-see market sentiment. Some companies are considering brown fused alumina as an alternative.
Due to the high and unpredictable raw material costs, some WFA producers plan to halt production temporarily until prices stabilize to mitigate operational risks.
