Chinese exports of alumina showed an increase in October
In October of 2018 Chinese companies exported 460,1 thousand tons of alumina. This figure was a new record in the history of the industry. Last impressive result had and June 2014. As for the imports, it became less. The figure was only about 50 thousand tons. China is the largest net importer of alumina.
External supply they started not so long ago. They have become necessary due to the presence of a deficit on the world market. He, in turn, was caused by U.S. sanctions. They were directed against the Russian group RUSAL. Also closed 50% of the capacity of the alumina plant Alunorte. It is located in Brazil. In addition, passed the lengthy strike at the company Alcoa. It is located in Western Australia. It all led to a rise in price of alumina. In October, the price tags have reached its climax.
For the first 9 months, Chinese exports amounted to about 1 million tons. The October figure exceeded the sum of the figures for the 2015, 2016 and 2017. Compared with September, the October result, more than 2.8 times. On this occasion, spoke the analyst of the Beijing division of the British consulting company CRU. Jackie Wang notes that the rate in October is peak. Because after that its exports will begin to decline. Already this month, the volume of exports will be less.
It is also worth noting that will take effect the winter restrictions. This refers to capacity constraints within the environmental policy. She is actively implemented in China. This year is expected to more stringent restrictions. As the price of alumina, they have already started to decline. First of October they decreased by about 30%.