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China Alumina Imports Down 33.6% MoM in November
Dec 30,2015 10:32CST
data analysis
Source:SMM
China imported 386,000 mt of alumina in November, down 33.6% MoM, customs data showed.

SHANGHAI, Dec. 30 (SMM) – China imported 386,000 mt of alumina in November, down 33.6% MoM, customs data showed. 

Three factors led to the decline. First, imported alumina enjoyed no price advantage over domestic alumina. FOB price of Australian alumina was USD 203/mt in late December, which is equivalent to over RMB 1,700/mt (including VAT, sea freight and port charges). The price was higher than domestic alumina prices. Second, yuan’s depreciation weakened Chinese buyers’ purchasing power. Yuan weakened to 6.45 against the US dollar in November. Third, imported alumina stocks were piling up at Chinese ports after aggressive imports in October. As of mid-December, alumina stocks across the Port of Lianyungang, the Port of Rizhao, the Port of Qingdao and Bayuquan hit as high as 1.47 million mt.    

 


China Alumina Imports
China Alumina Imports nov 2015

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