SHANGHAI, Jun. 30 (SMM) –China imported 340,500 mt of alumina in May, up from 315,900 mt in April and up 8.96% YoY, customs data showed. YTD imports through May amounted to 1.59 million mt, down 33.55% from a year ago.
Aluminum smelters preferred domestic alumina, whose prices fell due to high production during the first five months of the year. This caused imports to tumble January-May.
China’s alumina imports are expected to continue growing in June and July as the price advantage of domestic alumina began to weaken. Prices for domestic alumina are likely to stop falling as inventories at alumina refineries are approaching normal levels in June, and prices for Australian alumina took a downward turn, offering incentive for imports.