SHANGHAI, Sept. 1 (SMM) – China’s alumina imports will fall in August as Chinese alumina is becoming more attractive in prices, Shanghai Metals Market foresees.
Sharp depreciation of yuan has made imports more expensive, which will discourage import activity.
Calculated at a CIF price of $ 305 per tonne and USD:RMB exchange rate of 6.4, prices for imported alumina would be 2,380 yuan per tonne (including VAT and port charges). The price is higher than those for Chinese alumina Shanxi and Henan, SMM has learned.
China imported 545,200 tonnes of alumina in July, up 144.16% from June and 17.68% from a year ago, customs data showed.
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