SHANGHAI, Oct. 14 (SMM) – China’s alumina imports climbed sharply in September on lower overseas prices, as foreseen by Shanghai Metals Market earlier.
Inbound shipments of the raw material rose by 211.7% from a month ago to 450,000 tonnes in last month, data from Chinese customs office showed over the weekend. They were yet 6.1% down year-on-year.
SMM reported in September that domestic alumina prices stopped sliding on cost support, making imports appealing after FOB prices of Australian alumina fell more than 10% from this year’s high.
At the same time, new aluminium-making capacities being put on stream in Xinjiang, Qinghai, Inner Mongolia and other regions increased stocking demand from producers.
SMM’s alumina prices are quoted between 2,325-2,540 yuan ($379-414) per tonne today.
FOB prices of Australian alumina are $317 per tonne while CIF prices are $340 per tonne, according to SMM survey.