Shanghai Metal Market
Alumina Prices at Lianyungang fell to RMB 2,560/Mt in late July
Edited by : AL CIRCLE
1 min read
Falling Australian alumina prices have forced Chinese traders at ports to cut alumina prices, Shanghai Metals Market has learned. The low-end alumina quotation at Lianyungang has now fallen to RMB 2,560/mt, down RMB 20/mt on a weekly basis.
China’s alumina imports began to drop in April. China imported a mere 90,000 mt of alumina in June. Traders say Chinese aluminum smelters now prefer domestic alumina over imported material since prices of domestic alumina are more appealing, cutting into demand for imported alumina.
China’s alumina imports will likely rebound some in the third quarter, SMM has learned from some traders. This is because domestic producers, especially aluminum smelters in Henan, will ramp up imports now that the FOB price of Australian alumina has slipped to USD 316.5/mt since last week.
China’s alumina imports began to drop in April. China imported a mere 90,000 mt of alumina in June. Traders say Chinese aluminum smelters now prefer domestic alumina over imported material since prices of domestic alumina are more appealing, cutting into demand for imported alumina.
China’s alumina imports will likely rebound some in the third quarter, SMM has learned from some traders. This is because domestic producers, especially aluminum smelters in Henan, will ramp up imports now that the FOB price of Australian alumina has slipped to USD 316.5/mt since last week.
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