Average Total Cost of China's Alumina Industry in November 2024
According to Baichuan Yingfu statistics, the average total cost including taxes for China's alumina industry in November 2024 was 3,115.65 yuan per ton, up by 166.46 yuan per ton compared to October 2024's 2,949.19 yuan per ton. This represents a month-on-month increase of 5.64% and a year-on-year increase of 16.00%.
Ore Prices
In November, the market supply situation for ores became increasingly severe, and the price momentum of alumina continued to rise. As a result, corporate profit margins continued to narrow, leading to more positive production sentiment. Multi-channel mining efforts drove up the average domestic ore price.
Imported Ore Prices
The supply situation for imported ores overseas was also relatively severe. Currently, Chinese alumina companies have a high demand for imported ores, and under the stimulation of multiple favorable factors, spot prices have continued to rise.
Caustic Soda
Regarding caustic soda, enterprise inventory levels were low in November, and the Chinese caustic soda market continued its upward trend.
Thermal Coal
In terms of thermal coal, traders in November were supported by shipping costs and ongoing expectations for winter storage, resulting in relatively firm prices. However, downstream acceptance of high-priced supplies was poor, and the trading atmosphere between upstream and downstream remained stagnant, leading to low actual market transaction volumes. The average port coal prices in November increased compared to October, but the rate of increase was relatively limited.
Overall Impact
Overall, the significant price increases in ores and caustic soda in November led to a noticeable upward shift in the cost structure of the alumina industry. This comprehensive rise in input costs underscores the continued tightening of supply conditions and the impact of rising raw material prices on the industry's overall cost dynamics.