SHANGHAI, Apr. 10 (SMM) -- According to China Customs, China imported 440,000 mt of alumina in March, up 230.83% YoY. Total imports from January to March were 1.16 million mt, up 65.8% YoY.
There are two reasons behind growing alumina imports in 1Q 2012.
First, Western Australian alumina prices remained weak, and FOB prices for Western Australian alumina held steady at USD 320/mt in the first three months of 2012, while domestic long-term contract alumina prices were higher than RMB 2,700/mt, representing that imported alumina prices were much lower than domestic long-term contract alumina prices.
Second, rumors that Indonesia will enforce the ban on bauxite exports also prompted domestic aluminum producers to increase imports of alumina in an effort to minimize risks of possible alumina supply shortage.