AM Statistics: stocks of alumina made in China up by 12.5% MOM in June 2016
2016-07-06 15:29:49 [Print]
BEIJING (Asian Metal) 6 Jul 16 - According to stocks from Asian Metal, stocks of alumina made in China were about 1.35 million tons in late June 2016, up by 12.5% MOM. In specific, stocks held by alumina smelters were about 900,000t, up by 28.5% MOM; while those in Xinjiang were about 450,000t, down by about 10% MOM.
Alumina stocks held by Chinese smelters by month (kt)
As shown in above chart, stocks held by alumina smelters increased substantially in June. Prices for alumina made in China kept a very strong tendency to increase in March and April. Expecting that prices for alumina would increase moving forward, traders and downstream consumers purchased and stockpiled a large amount of the material, resulting in decreasing stocks held by alumina smelters. Prices for alumina picked up significantly by RMB110/t after entering June. Thinking that prices for alumina will decrease, market participants were reluctant to refill stocks, causing stocks for alumina to increase obviously.
Under funds pressure, alumina smelters were forced to lower prices for the material, however, transactions continued to be limited in the spot market and prices will decrease further. Thus, it is expected that electrolytic aluminum producers will conducted necessary purchases and stocks for alumina will increase further.
Alumina stocks held by Chinese smelters by month (kt)
As shown in above chart, stocks held by alumina smelters increased substantially in June. Prices for alumina made in China kept a very strong tendency to increase in March and April. Expecting that prices for alumina would increase moving forward, traders and downstream consumers purchased and stockpiled a large amount of the material, resulting in decreasing stocks held by alumina smelters. Prices for alumina picked up significantly by RMB110/t after entering June. Thinking that prices for alumina will decrease, market participants were reluctant to refill stocks, causing stocks for alumina to increase obviously.
Under funds pressure, alumina smelters were forced to lower prices for the material, however, transactions continued to be limited in the spot market and prices will decrease further. Thus, it is expected that electrolytic aluminum producers will conducted necessary purchases and stocks for alumina will increase further.
Alumina 98.5%min FOB Australia
Unit:USD/mt
China alumina producers' sales to production ratio statistics by province by month
Unit: %
