China's top alumina refiners -- Aluminum Corp of China or Chalco, Shandong Xinfa Group, and Jinjiang Group -- plan to raise domestic spot alumina offers to a minimum Yuan 2,700/mt this week, multiple market sources said Monday.

Domestic spot alumina offers across the country have been falling in recent weeks, and were quoting at a range of Yuan 2,550-2,650/mt cash to partial credit terms at the end of last week. Levels stood at Yuan 2,600-2,700/mt in early February.

"They (the producers) have agreed to start quoting higher this week in a bid to stop prices falling further ... but it's doubtful they can succeed, as buyers will not agree," a source close to a refiner said.

"We also heard of the plan to raise offers, but it's unlikely to work. Domestic aluminum prices are so low and smelters are planning cutbacks or have already started cutting back quietly, no one will pay higher," a Beijing trader added.

Chalco and Xinfa officials declined to comment Monday. Jinjiang could not be reached.

A Shanxi refiner said he had not heard any higher offers at Yuan 2,700/mt for spot on Monday yet, but "it's very likely true they will raise offers this week ... they will try."

On Monday, Henan refiners' offers continued at a stable Yuan 2,600-2,650/mt cash to 30% credit payment terms, unchanged from last Friday.

In Shanxi and Guangxi, offers were also steady at mostly Yuan 2,600-2,610/mt cash and Yuan 2,550/mt cash, respectively.

The front-month March aluminum contract on the Shanghai Futures Exchange closed at Yuan 12,890/mt ($2,094), down from Yuan 13,020/mt a week ago, and also from Yuan 13,175/mt on the month.