Imported alumina prices continue to move down
2015-07-15 09:23:49 [Print]
BEIJING (Asian Metal) 15 Jul 15 - Because of the soft demand for alumina, imported alumina prices slid to USD330-331/t CIF China, down from USD335-340/t CIF China in early July. Part importers postponed long-term contracts to the fourth quarter as they expect the price may rebound then.
A Chinese alumina importer reported that they will have 30,000t of Australian alumina arrived this week by long-term contracts. “We received no order recently,” said the source, adding that demand for the material is weak and sale conclusion prices may be around USD330-331/t CIF China.
According to the source, they sold 30,000t of imported alumina in late May at around USD350-351/t CIF China and had no deal in June. They may import around 180,000t of alumina in total in 2015, and the last two ships may arrive in China after September. Because of the current sluggish market, they postponed the contract to the fourth quarter. “We suffer losses at the current prices,” said the source.
Another Chinese alumina importer confirmed that Australian alumina prices declined to USD328-332/t CIF China from around USD340/t in June. “We will have one ship loading 30,000t of Australian alumina arrived in August by long-term contracts and we hope to sell them at USD330-331/t CIF China,” said the source, adding that negotiations for deals in China go slow, as consumers insisted on low prices.
The source stated that many Chinese aluminum ingot producers stopped consuming imported alumina, and demand is weak. They sold around 30,000t of imported alumina in June at around USD340/t CIF China and had no deal in July.
Both Chinese aluminum ingot and alumina prices stop declining significantly, so the source predicted that imported alumina prices may not drop further.
A Chinese alumina importer reported that they will have 30,000t of Australian alumina arrived this week by long-term contracts. “We received no order recently,” said the source, adding that demand for the material is weak and sale conclusion prices may be around USD330-331/t CIF China.
According to the source, they sold 30,000t of imported alumina in late May at around USD350-351/t CIF China and had no deal in June. They may import around 180,000t of alumina in total in 2015, and the last two ships may arrive in China after September. Because of the current sluggish market, they postponed the contract to the fourth quarter. “We suffer losses at the current prices,” said the source.
Another Chinese alumina importer confirmed that Australian alumina prices declined to USD328-332/t CIF China from around USD340/t in June. “We will have one ship loading 30,000t of Australian alumina arrived in August by long-term contracts and we hope to sell them at USD330-331/t CIF China,” said the source, adding that negotiations for deals in China go slow, as consumers insisted on low prices.
The source stated that many Chinese aluminum ingot producers stopped consuming imported alumina, and demand is weak. They sold around 30,000t of imported alumina in June at around USD340/t CIF China and had no deal in July.
Both Chinese aluminum ingot and alumina prices stop declining significantly, so the source predicted that imported alumina prices may not drop further.
Alumina 98.5%min EXW China
Unit:RMB/mt
China alumina producers' output statistics by province by month
Unit: mt
