Shanghai Metal Market
China’s alumina imports hit 11-month high in November on lower overseas prices, stocking demand
Edited by : AL CIRCLE
1 min read
China’s alumina imports hit a yearly high in November on lower overseas prices and stocking demand from northwest China, Shanghai Metals Market has learned.
Inbound shipments of the raw material climbed by 1.25% from a year ago to 550,000 tonnes last month, data from Chinese customs office showed. This marked a third straight month of growth. Imports during the first eleven months, however, fell by 24.65% year-on-year to 3.49 million tonnes.
New aluminum capacity came on stream in northwest China, boosting demand for the raw material.
Meanwhile, imported alumina proved more appealing for domestic aluminum smelters after its prices fell. Prices of imported alumina at Lianyungang port slipped by 100 yuan per tonne or 3.73% from a year ago to 2,579 yuan ($422.04) per tonne in November. Prices of domestic alumina also slid 128 yuan per tonne or 4.93% year-on-year to 2,470 yuan per tonne. FOB prices of Australian alumina edged down $ 3 per tonne from a year earlier to $ 323 per tonne.
Inbound shipments of the raw material climbed by 1.25% from a year ago to 550,000 tonnes last month, data from Chinese customs office showed. This marked a third straight month of growth. Imports during the first eleven months, however, fell by 24.65% year-on-year to 3.49 million tonnes.
New aluminum capacity came on stream in northwest China, boosting demand for the raw material.
Meanwhile, imported alumina proved more appealing for domestic aluminum smelters after its prices fell. Prices of imported alumina at Lianyungang port slipped by 100 yuan per tonne or 3.73% from a year ago to 2,579 yuan ($422.04) per tonne in November. Prices of domestic alumina also slid 128 yuan per tonne or 4.93% year-on-year to 2,470 yuan per tonne. FOB prices of Australian alumina edged down $ 3 per tonne from a year earlier to $ 323 per tonne.
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