SHANGHAI, Aug. 25 (SMM) – Alumina prices in China, which had been mired in downward track over the past few months, will not turn any worse in the second half of the year, SMM expects.
In fact, domestic alumina market is now basically in a supply & demand balance or small supply deficit.
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Most new alumina projects have come on stream so far this year, while other new alumina projects, which are scheduled for commissioning in late 2016, will not contribute output until next year, SMM survey showed.
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Even if alumina prices return to declines, any further downside room will be limited, considering that prices are now near cash costs, SMM added.
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