Chinalco forced to price adjustment 3.4% lead Alumina

March 3, Chinalco announced a rise in the aluminum spot price to 3000 yuan/ton, up to 3.4%, the price quickly and the non-CHINALCO aluminum oxide offer opened the gap.　　Industry advisory body, Aladdin said the price adjustment is mainly in order to reduce the spot and long association between the upside down price difference, the future of aluminum spot prices can only be cautious bullish. The price adjustment is Chinalco's first adjustment since November last year, when Chinalco quoted its alumina offer from 2750 yuan/ton to 2900 yuan/ton, or 5.45%. Chinalco's price adjustment was understood to be a follow-up to the spot market for alumina.　　And this time aluminum again up alumina prices, the price is ahead of the market. Aladdin data shows that the recent domestic non-Chinalco aluminum series of spot prices continued at 2850 yuan/ton, even lower than the price of aluminum alumina before pricing.　　Tight alumina Chang is actually the real reason for the Chinalco price adjustment. It is understood that since last year, the domestic alumina Chang was locked in the supply and demand of electrolytic aluminum price of 17%-17.5%, the aluminum oxide Chang ratio is generally 17.4%-17.5%. In the current period of aluminum prices (Shanghai and aluminum main contract price: 17190 yuan/ton) calculation, aluminum alumina Chang lattice in 2990 yuan/ton, close to 3000 yuan/ton.　　In fact, if the spot price of aluminum is not uplifted, it will have a negative impact on the implementation of its alumina long association. "It is clear that the Chinalco price adjustment is to balance the spot and long single spreads, to promote the smooth implementation of the long contract." "Aladdin Aluminum Industry analyst Tan Guibin analysis that Chinalco naturally hope that the non-CHINALCO aluminum oxide Quotation can also follow the increase, but the current overall aluminum market liquidity is still poor, acceptance settlement still occupy a considerable proportion of alumina supply pressure, especially large non-Chinalco alumina enterprises, the supply pressure persists, Non-Chinalco's alumina plant will not have a strong appetite for price increases. Tan Guibin expected that aluminum in the future of alumina spot price will continue to lead the spot market, but the momentum of further price increases is not enough.