Chinese Aluminium Smelters Seen Cutting Term Alumina Imports in 2012

(China Aluminium Network) Chinese aluminium smelters will reduce term imports of alumina even further in 2012 from last year's lower volumes due to cheaper supplies of the raw material at home, industry sources said on Wednesday.

Top domestic alumina producer, Chinalco, has agreed to supply smelters with 1 year-shipments priced at between 16 and 17 percent of the average value of Shanghai aluminium contract prices, the sources said. Other alumina refineries have agreed to sell the raw material to smelters at even lower prices.

China's imports of alumina fell by 56.4%on the year in 2011, with the December inflows falling 13% from the previous month and dropping 51.2% from a year earlier, as domestic refineries expanded production capacity.

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