Alumina price rally on the upward curve, SMM Says

Alumina prices in China are building up upward momentum after a slump in December, SMM sees.

The price rally will be driven by alumina production cuts, stocking before the 2016 Chinese New Year holiday due in early February, SMM aluminium analyst explained.

China’s alumina output fell 1.17% month-on-month to 4.66 million tonnes in December, SMM data statistics showed. Production cuts have allowed stocks to drop at Chinese alumina producers, SMM has learned.

It should be noted, though, that a pileup of cheap imported alumina will limit the upside of domestic alumina prices. Imported alumina traded around 1,700 yuan per tonne (including VAT, self pickup) at the Port of Lianyungang in mid-January.

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