02 OCTOBER 2014Shanghai Metal Market
China alumina imports up 142.74% in August 2014
Edited by : AL CIRCLE
1 min read
China imported 350,400 mt of alumina in August, up 142.74% YoY, but down 24.35% MoM, customs data showed. YTD imports through August surged 76.62% YoY to 3.58 million mt.
New Alumina capacity growth in China has not kept pace with expanding aluminum capacity, which is the major reason behind the YoY growth in alumina imports. However, two factors precipitated the MoM decline in import volumes. Alumina stocks at the Port of Lianyungang remained high and the price of imported alumina held relatively stable through August, leaving Chinese buyers in no rush to import.
Alumina imports are likely to pick up in September as the price of imported alumina has turned around and as demand from aluminum smelters in northwest China is growing.
New Alumina capacity growth in China has not kept pace with expanding aluminum capacity, which is the major reason behind the YoY growth in alumina imports. However, two factors precipitated the MoM decline in import volumes. Alumina stocks at the Port of Lianyungang remained high and the price of imported alumina held relatively stable through August, leaving Chinese buyers in no rush to import.
Alumina imports are likely to pick up in September as the price of imported alumina has turned around and as demand from aluminum smelters in northwest China is growing.
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