Asian Metal News
Four alumina import shipments from Australia, totaling 120 kt are scheduled to arrive at Lianyungang Port this July, marking a high point for 2019. To date, two shipments of 60 kt each have arrived at Lianyungang Port with a third scheduled to arrive next week and a fourth to arrive by end-July. During H1 2019, a total of 50 kt imported alumina has arrived Lianyungang port and there is 30 kt of imported alumina in stock at present.
Domestic alumina prices surged to RMB 3,200/t ex-work in May (USD 465/t), much higher than USD370/t FOB Australia in the global market at that time. Driven by this significant price gap, China’s alumina import arbitrage opened seeing China back to the alumina import market.
At present, mainstream alumina prices in the global market average USD295/t FOB Australia, and RMB 2,500/t (USD 363/t) in the domestic China market. Buyers have been watchful with no additional alumina import deals being closed over the past two weeks.
