China Alumina Imports Rise 31.76% YoY in January 2016

SHANGHAI, Mar. 8 (SMM) – According to China Customs, China imported 507,500 mt of alumina in January 2016, up 31.76% YoY, but down 6.72% MoM. 

Alumina prices overseas were depressed during December 2015 and January 2016, boosting Chinese buyers’ interest in imported alumina. Chinese alumina producers cut production during November and December 2015, also turning some buyers to imported alumina.  

Prices for domestic alumina saw big gains after entering February, driving prices for imported alumina up as well. FOB offers of West Australian alumina have been raised to around USD 232/mt, leaving import cost at RMB 1,900/mt for Chinese importers. There is still room for profit for Chinese importers since alumina at the Port of Lianyungang was offered higher at RMB 1,950/mt (self pickup). As such, China’s alumina imports are expected to increase in the future.