Sina Finance News
NBS: China produced 37.19 mln t of alumina during H1 2019, up 6.7% on-year, chiefly driven by capacity growth in Shandong, Guangxi and Guizhou, showing noted capacity growth in southern China and decline in northern China.
According to the Shanghai Nonferrous Metals Exchange Center, domestic alumina capacity is estimated to increase by 7.2 mtpy during H2 2019, growing by 2.8 mtpy in Q3 and 4.4 mtpy in Q4 2019, indicating ample alumina supply in the domestic market. Antaike analysts take the view that domestic alumina supply was in surplus of 300 kt during H1 2019. With supply growth exceeding that of demand, an alumina supply surplus of 740 kt can be expected for 2019. Antaike analysts forecast domestic alumina prices at RMB 2,450~2,900/t in H2 2019.