Alumina imports of China to fall in Feb due to cut down of production costs

Alumina imports of China are expected to fall in the month of February, largely due to falling post-holiday demand as well as cut down of production costs by aluminum smelters, as said by Shanghai Metals Market. The aluminium producers in China have almost lost their enthusiasm in building up aluminium stocks after the Chinese New Year holiday in early February and cutting the demand for the raw metal. Apart from this, supply in the domestic alumina market seems to be sufficient as the falling prices of aluminium have resulted in cutting down of production costs by aluminum producers, said the research team of SMM.

Inbound shipments of alumina were 642,000 tonnes in the month of January, up by 31.54% year on year due to restocking demand prior to the holidays, with an average CIF price of the metal at $354.02 per tonne. The major alumina Chinese importers in the month of January include Minmetals Aluminum Co, China Aluminum International Trading Co, ., Inner Mongolia Huomei Hongjun Aluminum Slab Co., Yugang Longquan Aluminum Co, Qinghai , Qingtongxia Aluminum Co. and Qiaotou Aluminum & Power Co.