Global aluminum supply map changes
China is a large importer of alumina, with a net import of more than 2 million tons per year. This year, it is expected to have a net export, which makes the market unexpected.
According to customs data, the export volume of unwrought aluminum and related aluminum products in China increased to 517,000 tons in August, close to 520,000 tons in July, the highest level in more than three years. From June to August this year, China's aluminum exports exceeded 1.5 million tons, creating a new export volume of three consecutive months. At the same time, the export volume in the first eight months of this year increased by 15% compared with the same period of last year.
The increase in foreign aluminum prices is significantly larger than that in China, and the difference in domestic and international price differentials is the reason for the sharp increase in export data. Liu Chao, an analyst at BOC International Futures, said.
News Date: Sep 13th, 2018 Reported by Maggie.