最新版alumina0504.pdfVIP

中国最大下载资料网 April 2005 The tide turns? • Fears over the abolition of tolling has led to a retreat in spot alumina prices. Chinese CIF prices are currently trading in the $455-465/t range, compared to $480-485/t in early April. • A decision on the timing for the removal of preferential tax rates for alumina imports under tolling agreements in China has been deferred, and is now expected in the summer. • Tender announcements have also gone quiet, with no transactions confirmed. Metallurgical grade alumina prices (US$/tonne, fob) 2003 2004 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Apr Spot prices Australia 252 293 295 357 299 472 412 338 357 395 405 425 Caribbean 237 277 273 337 281 432 381 322 337 368 385 403 Average spot price 244 285 284 347 290 452 396 330 347 381 395 414 2 LME 3-month official 1392 1379 1419 1519 1427 1667 1687 1716 1813 1721 1872 1896 % of LME 17.5 20.7 20.0 22.8 20.3 27.1 23.5 19.2 19.1 22.2 21.1 21.8 1 Contract prices One year (%) n/a n/a 17-19 19-21 n/a n/a 21-22 19-21 n/a n/a Medium term (%) n/a n/a 15-17 16-18 n/a n/a 19-21 16-18 n/a n/a 3 CRU composite price 154 163 163 174 163 192 208 201 215 204 n/a n/a Data: CRU. Notes: 1. Contract prices are for new contracts expressed as a % of Al LME 3M price. Medium term contracts refer to delivery in the following year only, and 2004 contract prices are still on