Platts China ex-works Shanxi daily spot alumina assessment closed the week Friday at Yuan 3,770/mt ($570/mt) cash, up Yuan 50/mt from Thursday, up Yuan 70/mt on the week and up Yuan 320/mt from a month ago.
Market sentiment stayed strong on the back of bauxite supply concerns and anticipated winter capacity cuts, sources said.
The bid-ask spread stood mostly at Yuan 3,750-3,800/mt cash Friday, with smelters putting buying guidance at Yuan 3,700-3,750/mt against refiners' selling ideas of Yuan 3,800-3,850/mt.
"It's a crazy market now, prices are still on the rise," a South central China smelter said. "But ingot prices didn't go up as much, so smelters are all making losses. Maybe some smelters can still pay Yuan 3,750-3,800/mt cash now, but not more than that."
A Beijing trader-consumer put tradeable spot prices at around Yuan 3,750/mt cash, while a Shanghai trader-consumer indicated levels closer to Yuan 3,800/mt cash.
Earlier in the week, a Henan refiner said he sold 10,000 mt spot at Yuan 3,800/mt ex-works Henan basis, at 30% credit terms to a Henan smelter, for delivery between mid-October to mid-November.
On Friday, the front-month primary aluminum contract on the Shanghai Futures Exchange closed at Yuan 16,265 mt, down from Yuan 16,280/mt last week, and also from Yuan 16,275/mt a month ago.
