China Alumina Import Volume Will Reaches 2500 Thousand Tons in the Next Half Year

(China Aluminum Network) It is learned that domestic alumina price was higher than import cost, thus alumina import volume will reaches 2500 thousand tons in the next half year of 2012, this figure was just equivalent to the import volume at the beginning of the year. China is the world leading aluminum producer.

Alumina price was bound up with the LME aluminum price. Since the end of May, LME aluminum price was lower than $2,000/ton. Australia spot alumina price was about $310/ton¡¡¡¡(FOB Benchmark) which was lower than the price ($320/ton) in June. Domestic spot alumina price was above RMB2,600 yuan/ton owing to the support from idled capacity of smelters.

A manager from a large aluminium manufacturer said the total import volume will reaches 5000 thousand tons. Though low metals price forced some enterprises to shut down aluminum capacity, China alumina demand and aluminum output still kept high. Aluminum Corpof ChinaLtd was the largest aluminum producer in domestic has shut down 12% alumina capacity.

At the first half year alumina import volume increased 143% to 2470 thousand tons yoy, created a new high within 75 months in May. Aluminum output was 1683 thousand tons in May also hit the high spot. The manager also said that large alumina import volume means domestic aluminum capacity was oversupply.

Though domestic economy slow down Chinese provincial government still try to support domestic aluminum capacity through power price subsidy.

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