SHANGHAI, Sep 28 (SMM) – China’s alumina exports are likely to boom in September as large numbers of orders made in July-August have yet to be fulfilled, SMM believes.
SMM research found that over 400,000 mt of alumina was ordered by buyers overseas in July-August. Data from the Customs showed that only 134,000 mt was exported for the same months. The gap is expected to be fulfilled in September-October.
Cooling stockpiling enthusiasm among international consumers, however, is expected to dwindle down the export volume in September.
FOB Australia alumina prices rose from the end of June to early September. SMM assessments showed that the prices averaged $640/mt as of September 7, up $200/mt or 45% from $440/mt recorded on June 28. In July-August, primary aluminium producers overseas stockpiled for the fourth quarter of year and this bolstered the prices.
As the stockpiling wave wound down, alumina prices declined in the past fortnight and stood at $535/mt as of September 28, down $105/mt or 16% from $640/mt.