SHANGHAI, Jul. 25 (SMM) –Closures of illegal aluminum capacity as of July 21 may add nearly 170,000 tonnes of alumina to spot market per month in the short term, SMM estimates.
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Xinfa Group may ship surplus alumina to its aluminum plant in Xinjiang after slashing 530,000 tonnes of aluminum capacity last week, while Weiqiao Group may reduce alumina imports from Indonesia so as to make sure its alumina capacity in domestic market runs smoothly.
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With illegal aluminum projects being called to a halt, alumina supply is shifting toward a glut.
The weighted average alumina price in domestic four major markets was 2,542 yuan/tonne on July 21, down 10 yuan/tonne on a weekly basis.
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