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THINK ALUMINIUM THINK AL CIRCLE
China alumina prices, which have been on a downward track over the last few months, are unlikely to deteriorate further in the second half of the current financial year, analysts at the Shanghai Metals Market expect.
Presently, the Chinese alumina market is in a demand-supply balance with small supply deficits existing in a few pockets.
Most of the newly installed alumina refineries have started operations this year, while few other awaiting commissioning in the remaining half 2016, will contribute output only next year, showed a survey conducted by SMM.
Unit: RMB/mt
Source: SMM
Analysts believe, even if alumina prices take a U-turn and start declining, the range of downside will be limited, given the fact that that prices are now near cash costs.
Meanwhile, some white and brown fused alumina producers in Henan have received the green light to restart production, reported industry sources. However, uncertainty remains on whether there would be more disruption in output in September due to renewed anti-pollution efforts.
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