SHANGHAI, Oct. 31 (SMM) – Alumina prices in China, though upward momentum is waning after continuous gains, will stay firm thanks to supply deficit, SMM understands.
SMM estimates nearly 5.5 million tonnes of new and restarted aluminum capacity will enter operations in Q4 2016 and next year. Newly added alumina capacity will be just 6 million tonnes in late 2016 and next year. Hence, alumina supply will remain in deficit.
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SMM data showed weighted average alumina price in domestic four major markets was 2,533 yuan/tonne in the week ending October 30, up 0.86% on a weekly basis.
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