SMM Analysis: A Brief Analysis and Outlook of China's Aluminum Oxide Exports in 2023

Overall, in 2023, Russia continues to maintain its overwhelming position as the largest exporter of aluminum oxide to China. Geopolitical factors and the supply and demand situation in the overseas aluminum oxide market are the most significant reasons for Russia's perennial dominance as the top exporter. In addition, in 2023, aluminum oxide production in some overseas regions is restricted due to reasons such as calcination and ore, but in recent years, significant capacity expansion is expected in overseas new aluminum oxide projects. Overseas new aluminum oxide capacity is mainly concentrated in the Asian region, with plans for Vedanta, an aluminum oxide plant in India, to expand its capacity by 3 million tons. Meanwhile, Tan Rai and Nhan aluminum oxide plants in Vietnam with a combined capacity of 650,000 tons will maintain full production in the short term. In addition, two major domestic aluminum industry groups...