05 MAY 2016Shanghai Metals Market
China alumina imports up 64.88% YoY in March
Edited by : AL CIRCLE
1 min read
Customs data showed China imported 359,800 mt of alumina in March, up 64.88 per cent YoY, but down 3.37 per cent MoM. High profit encouraged Chinese alumina producers to step up production in March 2015, reducing demand for imported alumina. Alumina imports in March 2015 were partly affected by the 2015 Chinese New Year holiday, which took place in mid-February. Lower base in March 2015 explained the year-on-year increase in March 2016.
Alumina stocks at domestic ports were stable in March this year. Rising alumina FOB prices left imported alumina at no obvious price advantage. As such, trading at domestic ports was inactive, causing imports to drop on a month-on-month basis. Share of Australian alumina in total imports fell to 42.56 per cent in March from February’s 51.33 per cent, while that of Indian alumina jumped to 25.13 per cent from February’s 8.17 per cent.
Average CIF price of West Australian alumina to China rose 2.2 per cent MoM in March, according to China Customs. SMM data showed FOB price of West Australian alumina to China climbed from USD 232/mt at the beginning of March to USD 249/mt at the end of March, a gain of 7.3 per cent.
Alumina stocks at domestic ports were stable in March this year. Rising alumina FOB prices left imported alumina at no obvious price advantage. As such, trading at domestic ports was inactive, causing imports to drop on a month-on-month basis. Share of Australian alumina in total imports fell to 42.56 per cent in March from February’s 51.33 per cent, while that of Indian alumina jumped to 25.13 per cent from February’s 8.17 per cent.
Average CIF price of West Australian alumina to China rose 2.2 per cent MoM in March, according to China Customs. SMM data showed FOB price of West Australian alumina to China climbed from USD 232/mt at the beginning of March to USD 249/mt at the end of March, a gain of 7.3 per cent.
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