Aluminum Market Report January 2015

Abstract 3
1 Financial overview 4
1.1 Domestic financial overview 4
1.1.Asian Metal Copyright2 Chinese bauxite imports up by 26.Asian Metal Copyright1 December CPI up 1.Asian Metal Copyright8 million tonnes late January 2015 18 5.Asian Metal Copyright5% YOY PPI down 3.3% YOY in China 4
1.1.Asian Metal Copyright1 December CPI up 1.Asian Metal Copyright2 China’s December PMI drop 0.2% 4
1.2 International financial overview 6
1.1.1 Crude oil futures prices fluctuated but ended with stability 6
1.1.2 The US dollar went up continuously in January 6
2 Company news 7
3 Chinese domestic market review 8
3.1 Declining aluminum ingot price drags the aluminum fluoride market 8
3.2 Prices for Chinese-origin alumina decreased in China 8
3.3 Carbon anode prices decreased slightly in China 9
3.4 Primary aluminum price fluctuates towards downtrend 10
3.5 Chinese secondary aluminum alloy ingot price decrease 11
4 International market review 12
4.1 Malaysian bauxite price holds firm 12
4.2 Indian bauxite deals inactive 13
4.3 Chinese aluminum fluoride export price hard to move up 14
4.4 Imported alumina prices declined in China 14
4.5 LME aluminum prices rebound after the bottom in January 15
4.6 LME aluminum inventories fluctuate towards downtrend 16
4.7 Chinese secondary aluminum alloy ingot export prices on the slide 17
4.8 Related industry developments 18
5 Production data 18
5.1 China’s imported bauxite stocks down to 31.8 million tonnes late January 2015 18
5.2 Chinese aluminum fluoride output down by 1.7% YOY in January 2015 20
5.3 Chinese primary aluminum output up by 0.12% MOM in January, 2015 20
5.4 China’s alumina production up by 0.94% MOM in January 22
5.5 China’s alumina stocks up by around 81.81% MOM in late January 23
5.6 Aluminum ingot stocks up by 55,000t in late January on Chinese market 24
6 Import & Export data analysis 26
6.1 Chinese aluminum fluoride export volume down by 10.77% MOM in December 2014 26
6.2 Chinese bauxite imports up by 26.46% MOM in December 2014 29
6.3 Chinese imports of alumina in December 2014 up by 44.04% MOM 32
6.4 Chinese carbon anode exports increase by 25.27% MOM in December 34
6.5 Chinese aluminum alloy exports down by 11.03% MOM in December 2014 36
6.6 Chinese aluminum scrap imports up by 14.17% MOM in December 2014 39
7 Outlook for February 42
7.1 Alumina prices may decrease in a further way 42
7.2 Price for aluminum ingot may decrease after the increase 42
7.3 Secondary aluminum alloy ingot stable 42

Graph 1 Chin’s CPI and PPI YOY trend in 2014 4
Graph 2 China’s PMI from 2014 to 2015 6
Graph 3 US crude oil futures price on major transaction market in December 6
Graph 4 US dollar index trend 7
Graph 5 Chinese aluminum fluoride price movement in January 2015 8
Graph 6 Chinese-origin alumina price movement in January 2015 9
Graph 7 Carbon anode price movement in January 2015 10
Graph 8 Aluminum Ingot price on the Chinese market in January 11
Graph 9 Chinese ADC12 aluminum alloy ingot price movement in January 12
Graph 10 Price movement for Malaysian bauxite Al 42%min CIF China 13
Graph 11 Price movement for Indian bauxite Al 43%min CIF China 14
Graph 12 Australian-origin alumina price movement in Chinese port in January 2015 15
Graph 13 Australian-origin alumina CIF China price movement in January 2015 15
Graph 14 LME aluminum cash price chart in January 16
Graph 15 LME aluminum inventories in January 17
Graph 16 Export price movements for Chinese secondary aluminum alloy ingot in January 18
Graph 17 Chinese imported bauxite inventory 2014-2015 19
Graph 18 Chinese monthly consumption for imported bauxite 2014-2015 20
Graph 19 Chinese aluminum fluoride output 2014-2015 20
Graph 20 China’s primary aluminum production in 2014 22
Graph 21 China alumina output 2014-2015 23
Graph 22 Chinese alumina refineries’ alumina stocks 2014-2015 24
Graph 23 Aluminum ingot stocks in Chinese spot market in 2014-2015 26
Graph 24 Chinese aluminum fluoride exports in 2014 27
Graph 25 Chinese aluminum fluoride exports by major countries 2014 27
Graph 26 Chinese aluminum fluoride exports to major countries in 2014 28
Graph 27 Chinese bauxite imports in 2014 30
Graph 28 Chinese bauxite imports by major origins in 2014 30
Graph 29 Chinese alumina import in 2014 32
Graph 30 Chinese alumina import by major origin 33
Graph 31 Chinese carbon anode exports in 2014 34
Graph 32 Chiense carbon anode export prices in 2014 35
Graph 33 Chinese aluminum alloy exports 2014 37
Graph 34 Chinese aluminum alloy exports by major destinations 38
Graph 35 Chinese aluminum alloy export prices by destination 39
Graph 36 Chinese aluminum scraps import in 2014 40
Graph 37 Chinese aluminum scrap imports by major origins 2014 41
Graph 38 Chinese import prices for US aluminum scraps 41

Table 1 Output of primary aluminum in China’s major producing areas in January 21
Table 2 Chinese aluminum fluoride export companies in December, 2014 28
Table 3 Chinese bauxite imports in December 2014 30
Table 4 Chinese bauxite importers in December 2014 31
Table 5 Chinese alumina import statistics in December 33
Table 6 Top 10 Chinese alumina import enterprises in December 33
Table 7 Main carbon anode exporters in December 35
Table 8 Chinese carbon export details in December 35
Table 9 Chinese top ten aluminum alloy exporters December 2014 39
Table 10 Chinese top ten aluminum scrap importers December 2014 41

.Asian Metal Copyright5 China’s alumina stocks up by around 81Asian Metal Copyright