Cnal News
China produced 5.53 mln t of alumina in September down 9.47% on-year, with daily average output at 184.3 kt, a drop of 0.2 kt/day on-month from 184.5 kt/day in August.
The full weighted average production cost for domestic refineries was RMB 2,477/t, down RMB 5.73/t or 0.23% from RMB 2,482/t from the previous month and down 8.76% on-year. Dropping bauxite prices in Henan and Guangxi in combination with a slight rebound in caustic soda prices in Shandong and flat thermal coal prices in most producing regions leveraged domestic alumina production costs lower during September.
China imported 187.2 kt of alumina(MGA) with no exports at all in September. Based on alumina consumption of 1.93 t for every tonne of primary aluminium production, Baichuan analysts take the view that the domestic market is relatively balanced with a small alumina supply surplus of 29.2 kt in September. Baichuan forecast China’s alumina imports at 172.8 kt for October 2019.
