SHANGHAI, Apr. 3 (SMM) – China’s alumina imports tumbled 29.07% YoY to 330,000 mt in February. YTD imports through February totaled 710,000 mt, down 35%, customs data showed. Supply of domestic alumina grew, and its prices were lower than imported alumina, so some aluminum smelters preferred domestic alumina.
Domestic alumina will remain at a price advantage over imported goods since growing alumina inventories will prevent prices from rising. As such, China’s appetite for imported alumina will weaken further. Rusal and Alcoa announced decisions to cut aluminum production this year, boding ill for overseas alumina prices.
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