China alumina prices to stay firm backed by clear supply deficit

Alumina prices in China major markets will stay firm over the short term though the upward momentum is showing signs of slackening after logging continuous growth for some time now, said analysts at the Shanghai Metals Market.

According to the latest market update, nearly 5.5 million tonnes of new and closed-down aluminium capacities are awaiting operation (re)-starts in the fourth quarter of the current fiscal and early next year. In comparison to that, new alumina capacity addition is estimated at only 6 million tonnes in the end of 2016 and 2017 beginning. Hence, there is going to be a clear deficit in alumina supply in the market.

The weighted average alumina price in China's four major markets was 2,533 yuan/tonne in the week ending October 30, up 0.86 per cent from the previous week, SMM data showed.

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