In July 2020, China imported 417,263 tonnes of alumina, more than double the 200,000 tonnes in the year ago, according to Chinese customs data released on Tuesday, August 25.
China’s total alumina imports since the beginning of the year has come in at 2.33 million tonnes, up by 341.2 per cent from the corresponding period last year.
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The stupendous hike in Chinese alumina imports has reportedly blown the domestic alumina market, which was already under pressure due to the lack of buying interests among domestic primary aluminium producers.
However, according to a Shanghai-based alumina analyst, China’s domestic alumina market has a fair chance to rebound after last week’s surge following Hydro’s disruption.
He said, “Overall, the market has ample supply, and I heard northern China started to offer lower at 2,330 yuan per tonne, maybe it will show a confirmed downward trend soon.”
China’s alumina price during August 19-24 rose by RMB 45 per tonne to stand at RMB 2,347 per tonne, driven by the news on August 18 that Hydro halted operations at the pipeline transporting bauxite from its Paragominas mine to Alunorte alumina refinery.
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Prior to this uptick, the price was on a downward trend since the last week of July lowering from RMB 2,491 per tonne to RMB 2,302 per tonne, attributing to increasing supply after a number of refineries resumed idled capacities.
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