CMAAX is a new Chinese Referenced Daily Alumina Price index, or reference price. It has been jointly developed by Aladdiny.com, a leading China-based information service provider, and C&M, a global commodity consulting firm. Based on daily transaction data acquired in China's spot market, CMAAX reflects alumina industry fundamentals and real changes in the Chinese alumina spot market. The CMAAX Daily Alumina Price Index has support from China's independent alumina suppliers and buyers as well as support and guidance from the Chinese Academy of Social Sciences (CASS).
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This Monday (May 15th), Australian alumina FOB price dropped by USD 1/t to USD 318.5/t due to a sluggish market with buyers on the fence. The downswing of the LME aluminium price has prompted growing pessimism in the alumina market.
Last Friday (May 11th), Australian alumina FOB price was USD 319.5/t. But buyers are still staying on the fence, believing that it is not the right time to purchase but to wait for the real impact of Indonesia’s bauxite ore export policy to meet the eyes.
The alumina price continued the small rallying trend of the previous week mainly against the backdrop of basic balance of supply and demand, low inventories in alumina companies, expectation of higher cost triggered by
This week (May 7th – 11th), the alumina market in China is running steadily. Though Indonesia’s bauxite export policy has been nailed down, its impact on the market has yet to show. Despite of strong intent of alumina refineries to raise
The Chinese alumina market is now evaluating the impact of Indonesia’s new bauxite export policy following news that it has been has been formulated formally. According to the foreign media,
The CM Group is an Australia-based industry research boutique specialising in supply-side commodity analysis.
Aladdiny is an information service provider and a subsidiary of the China Industries & Enterprises Competitiveness Research Centre.