SHANGHAI, Jun. 26 (SMM) – China Customs data show that China imported 196,000 mt of alumina from Australia in May, down 66.3% YoY. YTD imports through May totaled 1.54 million mt, down 16.1% YoY. The CIF price of Australian alumina remained high at USD 362.5/mt in May.
The FOB price of Australian alumina fell from February’s USD 351.5/mt to USD 323/mt last Friday. The sea freight, however, held stable at USD 23/mt.
High CIF prices for Australian alumina helped prevent imported alumina prices (including tax) at ports from falling. SMM survey found that imported alumina prices at Lianyungang port held stable at RMB 2,600/mt (including tax) in early June. Traders say they will not cut prices sharply since sales prices are nearing or even lower than purchasing prices. Some long-term imported alumina contracts in bonded areas have been re-exported to other countries due to meager margins for imported alumina, causing alumina imports to fall.