New alumina projects, oversupply continue to loom over China's alumina market in H2 - analyst

The Chinese domestic alumina price remains under continued pressure in the second half of the year due to oversupplied fundamentals, an alumina analyst said at the Qianhai Mercantile Exchange Aluminium & Alumina Seminar on Tuesday September 15.

“The domestic [Chinese] alumina market’s fundamentals won’t have a big change in the rest of the year despite several new aluminium projects. We estimate the alumina price will be rangebound around 2,300-2,500 yuan ($339-368) per tonne for the rest of this year,” alumina analyst Yu Tao said at the seminar.
Fastmarkets research analyst Cao Yang estimates China’s domestic alumina market has operated with a surplus of 83,000 tonnes per month so far in 2020.

Meanwhile, Fastmarkets assessed the alumina metallurgical grade, ddp China price at 2,280-2,310 yuan per tonne on September 10, down 20-30 yuan per tonne from 2,310-2,330 yuan per tonne the week prior...

Published

Hui Li

September 16, 2020

10:41 GMT

Shanghai