Monthly Fused Alumina Market Report Apr 2023

2023-05-12 08:59:28 【Print】

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Contents

1 Market Highlights 3
2 Economy and Policy 3
3 Market Movement 3
3.1 Chinese Market 3
3.1.2 Brown fused alumina 95%min F36 EXW China 3
3.1.3 White fused alumina 99%min 1-3mm EXW China 3
3.1.4 White fused alumina 99%min F36 EXW China 3
3.2 Chinese Export Market 4
3.2.1 Brown fused alumina 95%min 1-3mm FOB China 4
3.2.2 Brown fused alumina 95%min F36 FOB China 4
3.2.3 White fused alumina 99%min 1-3mm FOB China 4
3.2.4 White fused alumina 99%min F36 FOB China 4
3.3 International Market 4
3.3.1 Brown fused alumina 95%min 1-3mm EXW India 4
3.3.2 Brown fused alumina 95%min F36 EXW India 4
3.3.3 Brown fused alumina 95%min 1-3mm in Warehouse Rotterdam 5
3.3.4 White fused alumina 99%min 1-3mm in Warehouse Rotterdam 5
4 Company news 5
4.1 Sanmenxia Mingzhu to resume brown fused alumina production 5
4.2 Jiyuan Jieda suspends brown fused alumina production 5
4.3 Luoyang Kaifa plans to resume brown fused alumina production 5
5 Producer Statistics 5
5.1 Chinese brown fused alumina producers' statistics 5
5.1.2 Chinese brown fused alumina producers' output up by 3.19% MoM in Apr 6
5.1.3 Chinese brown fused alumina producers' inventory up by 28.02% MoM in Apr 6
5.2 Chinese white fused alumina producers' statistics 7
5.2.1 Chinese white fused alumina producers' operating rate down by 1.1% MoM in Apr 7
5.2.3 Chinese white fused alumina producers' inventory up by 10.57% MoM in Apr 7
6 Custom Statistics 8
6.1 China's brown fused alumina export volume grew 44.72% MoM in Mar 2023 8
6.2 China's white fused alumina export volume increased 84.29% MoM in Mar 2023 9
7 Relevant Industry News 10
8 Market Outlook for Next Month 10
8.1 Chinese Market 10
8.1.1 Brown fused alumina 95%min 1-3mm EXW China 10
8.1.2 Brown fused alumina 95%min F36 EXW China 10
8.1.3 White fused alumina 99%min 1-3mm EXW China 10
8.1.4 White fused alumina 99%min F36 EXW China 10
8.2 Chinese Export Market 10
8.2.1 Brown fused alumina 95%min 1-3mm FOB China 10
8.2.2 Brown fused alumina 95%min F36 FOB China 10
8.2.3 White fused alumina 99%min 1-3mm FOB China 10
8.2.4 White fused alumina 99%min F36 FOB China 10
8.3 International Market 10
8.3.1 Brown fused alumina 95%min 1-3mm EXW India 10
8.3.2 Brown fused alumina 95%min F36 EXW India 10
8.3.3 Brown fused alumina 95%min 1-3mm in Warehouse Rotterdam 10
8.3.4 White fused alumina 99%min 1-3mm in Warehouse Rotterdam 10

1 Market Highlights

Brown fused alumina:
Given the sluggish Market demand, most producers cut their prices this month to boost sales.

Considering the dropped domestic prices and weak overseas demand, most exporters reduced their prices this month.

White fused alumina:
Despite the stable alumina prices, given the sluggish demand, most producers cut their prices this month to compete for orders.

Most exporters cut their prices to boost sales on basis of the reduced domestic prices and weak Market demand.

2 Economy and Policy

2.1 China to further expand scale of RMB settlement for cross-border trade
The General Office of the State Council recently issued a guideline on stabilizing scale and optimizing structure of foreign trade, which calls for improving cross-border settlement services. It will encourage financial institutions to innovate and improve foreign exchange derivatives and cross-border RMB business, further expand the scale of cross-border RMB trade settlement, and better meet the needs of foreign trade enterprises for exchange rate hedging and cross-border RMB settlement.

2.2 World Bank raises China's economic growth forecast to 5.1%
World Bank released the April issue of the "Semi Annual Report on Economy of East Asia and the Pacific" on March 31. The report said that due to China's continuous opening up and a significant rebound in economic activity, the growth of developing economies in East Asia and the Pacific would exceed previous expectations. The report raised China's economic growth forecast for 2023 to 5.1% from the 4.5% forecast in October last year, an increase of 0.8% compared to the 4.3% forecast in the World Bank's Global Economic Outlook report released in January this year. In addition, the economic growth rate of developing economies in East Asia and the Pacific will rebound to 5.1% in 2023 from 3.5% last year, higher than the 4.6% forecast in October last year.

3 Market Movement

3.1 Chinese Market

By the end of April, the mainstream prices of Chinese brown fused alumina 95%min 1-3mm stood at RMB4,600-4,800/t (USD665-693/t) Inc-VAT EXW D/A 180 days, down by RMB250/t (USD36/t) MoM. Despite the firm production costs, given the sluggish Market demand, most producers cut their prices this month to compete for orders.

Prices of brown fused alumina 95%min 1-3mm EXW China from 2023-03-01 to 2023-04-30 (RMB/t)

3.1.2 Brown fused alumina 95%min F36 EXW China
In late April, the mainstream prices of Chinese brown fused alumina 95%min F36 stood at RMB5,200-5,450/t (USD750-779/t) Inc-VAT EXW D/P, down by RMB150/t (USD22/t) MoM. Despite the firm production costs, most producers, given the sluggish Market demand, cut their prices this month to compete for orders.

Prices of brown fused alumina 95%min F36 EXW China from 2023-03-01 to 2023-04-30 (RMB/t)

3.1.3 White fused alumina 99%min 1-3mm EXW China
By the end of April, the mainstream prices of white fused alumina 99%min 1-3mm stood at RMB4,400-4,500/t (USD635-649/t) Inc-VAT EXW D/P, down by RMB100/t (USD14/t) MoM. Despite the high production costs, most producers, given the sluggish Market demand, cut their prices this month to compete for orders.

Prices of white fused alumina 99%min 1-3mm EXW China from 2023-03-01 to 2023-04-30 (RMB/t)

3.1.4 White fused alumina 99%min F36 EXW China
In late April, the mainstream prices of Chinese white fused alumina 99%min F36 stayed at RMB4,800-5,000/t (USD693-722/t) Inc-VAT EXW D/P, down by RMB100/t (USD14/t) MoM. Despite the firm production costs, considering the sluggish Market demand, most producers cut their prices this month to compete for orders.

Prices of white fused alumina 99%min F36 EXW China from 2023-03-01 to 2023-04-30 (RMB/t)

3.2 Chinese Export Market

3.2.1 Brown fused alumina 95%min 1-3mm FOB China
By the end of April, the mainstream export prices of Chinese brown fused alumina 95%min 1-3mm stood at USD670-690/t Ex-VAT FOB China, down by USD40/t MoM. Owing to the reduced domestic prices and the weak Market demand, most exporters cut their prices.

Price trend of brown fused alumina 95%min 1-3mm FOB China from 2023-03-01 to 2023-04-30 (USD/t)

3.2.2 Brown fused alumina 95%min F36 FOB China
In late April, the mainstream export prices of Chinese brown fused alumina F36 stayed at USD760-780/t FOB China, down by USD20/t MoM. Due to the weak Market demand, most exporters cut their prices to boost sales.

Price trend of brown fused alumina 95%min F36 FOB China from 2023-03-01 to 2023-04-30 (USD/t)

3.2.3 White fused alumina 99%min 1-3mm FOB China
By the end of April, the export prices of Chinese white fused alumina 99%min 1-3mm increased to USD630-650/t FOB China, down by USD20/t MoM. Due to the weak Market demand, most exporters cut their prices to boost sales.

Price trend of white fused alumina 99%min 1-3mm FOB China from 2023-03-01 to 2023-04-30 (USD/t)

3.2.4 White fused alumina 99%min F36 FOB China

In late April, the mainstream export prices of Chinese white fused alumina 99%min F36 stayed at USD700-720/t FOB China, down by USD20/t MoM. Owing to the reduced domestic prices and the weak Market demand, most exporters cut their prices.

Price trend of white fused alumina 99%min F36 FOB China from 2023-03-01 to 2023-04-30 (USD/t)

3.3 International Market

3.3.1 Brown fused alumina 95%min 1-3mm EXW India
By the end of April, the mainstream prices of brown fused alumina 95%min 1-3mm in Indian Market stayed at INR79,000-80,000/t Inc-VAT EXW T/T 45 days, down by INR1,000/t from late last week. Considering the low prices pressure from Chinese competitors, most Indian producers cut their prices this week to maintain sales.

Price trend of brown fused alumina 95%min 1-3mm EXW India from 2023-03-01 to 2023-04-30 (INR/t)

3.3.2 Brown fused alumina 95%min F36 EXW India
By the end of April, the mainstream prices of brown fused alumina 95%min F36 in Indian Market stood at INR80,000-81,000/t Inc-VAT EXW T/T 45 days, down by INR1,000/t from late last week. Considering the low prices pressure from Chinese competitors, most Indian producers cut their prices this week to maintain sales.

Price trend of brown fused alumina 95%min F36 EXW India from 2023-03-01 to 2023-04-30 (INR/t)

3.3.3 Brown fused alumina 95%min 1-3mm in Warehouse Rotterdam
In late April, the mainstream prices of European brown fused alumina 95%min 1-3mm stood at EUR740-790/t T/T 30 days in Warehouses Rotterdam, down by EUR40/t MoM. Based on the declined prices from Chinese suppliers and weak demand, most suppliers in European lower their prices this month.

Price trend of brown fused alumina 95%min 1-3mm in Warehouse Rotterdam from 2023-03-01 to 2023-04-30 (EUR/t)

3.3.4 White fused alumina 99%min 1-3mm in Warehouse Rotterdam
By the end of April, the mainstream prices of white fused alumina 99%min 1-3mm hovered at EUR700-750/t in Warehouse Rotterdam, down by EUR10/t MoM. Based on the declined prices from Chinese suppliers and weak demand, most suppliers in European lower their prices this month.

Price trend of white fused alumina 95%min 1-3mm in warehouse Rotterdam from 2023-03-01 to 2023-04-30 (EUR/t)

4 Company news

4.1 Sanmenxia Mingzhu to resume brown fused alumina production
A major brown fused alumina producer in Henan, Sanmenxia Mingzhu Electric Smelting Co., Ltd. resumed production on 10th April after suspension for three months, expecting an output of nearly 2,000t in April. "We halted production in early January due to sluggish market demand and resumed production last Monday", a source from the company claimed, noting that they plan to produce about 2,000t this month and the output would reach 3,000t in May. With a production capacity of 60,000tpy, the company produced about 15,000t in 2022 and they expected to produce about 25,000t this year. They hold an inventory of almost 3,000t at present.

4.2 Jiyuan Jieda suspends brown fused alumina production
A major brown fused alumina producer in Henan, Jiyuan Jieda Abrasive Materials Co., Ltd., suspended production on 17th April owing to sluggish market demand and high inventory pressure, with an output of nearly 500t this month. "We halted production on 17th April because of the weak market demand and high stocks volume of nearly 1,200t now", a source from the company revealed, noting that they produced about 500t this month and expect to resume production in mid-May if the market demand turns better at that time. With a production capacity of 27,000tpy, the company produced about 3,000t in 2022 and expected to produce about same scale this year due to sluggish market demand. Currently they hold an inventory of nearly 1,200t, increased by nearly 500t from last month.

4.3 Luoyang Kaifa plans to resume brown fused alumina production
A primary brown fused alumina producer in Henan, Luoyang Kaifa Abrasive Materials Co., Ltd. considers to resuming their brown fused alumina production within two weeks after suspension for nearly half a month. "We are considering to resuming production within two weeks since they believe the market demand start to recover", a source from the company revealed, noting that they hold about 800t in stock at present, down by nearly 2,400t from early this month. With a production capacity of 35,000tpy, the company produced about 15,000t in the previous year, while they expect to produce about 17,000t this year. They produced about 1,000t this month.

5 Producer Statistics

5.1 Chinese brown fused alumina producers' statistics

5.1.1 Chinese brown fused alumina producers' operating rate up by 0.88% MoM in Apr
In April 2023, China's operating rate of brown fused alumina producers was 27.44%, up by 0.88% MoM and down by 7.77% YoY.

Chinese brown fused alumina producers' operating rate from Apr 2022 to Apr 2023 (t)

In April 2023, the operation rate of producers in Guizhou was 23.09%, down by 0.13% MoM and down by 24.52% YoY; that in Henan was 21.79%, up by 1.77% MoM and up by 1.25% YoY; that in Shanxi was 45.33%, unchanged MoM and down by 11.94% YoY; that in other area was 50.45%, unchanged MoM and up by 7.86% YoY.

Chinese brown fused alumina producers' operating rate from Apr 2022 to Apr 2023 (t)

5.1.2 Chinese brown fused alumina producers' output up by 3.19% MoM in Apr
In April 2023, Chinese brown fused alumina producers' output was 74,200t, up by 3.19% MoM and down by 24.43% YoY.

Chinese brown fused alumina producers' output from Apr 2022 to Apr 2023

Chinese brown fused alumina producers' output by province from
Apr 2022 to Apr 2023

In April 2023, in Guizhou was 17,700t, down by 0.05% MoM and down by 53.03% YoY; that in Shanxi was 12,200t, unchanged MoM and down by 31.60% YoY; that in Henan was 30,300t, up by 8.6% MoM and unchanged YoY; that in other area was 14,000t, unchanged MoM and down by 28.56% YoY.

5.1.3 Chinese brown fused alumina producers' inventory up by 28.02% MoM in Apr
In April2023, Chinese brown fused alumina producers' inventory was 103,700t, up by 28.02% MoM and up by 15.73% YoY.

Chinese brown fused alumina producers' inventory from Apr 2022 to Apr 2023(t)

In April 2023, the brown fused alumina producers' inventory in Guizhou was 14,000t, down by 4.28% MoM and down by 62.86% YoY; that in Shanxi was 10,300t, down by 27.46% MoM and down by 42.78% YoY; that in Henan was 29,000t, down by 16.18% MoM and up by 184.31% YoY; that in other area was 14,300t, down by 8.33% MoM, down by 36.44% YoY.

Chinese brown fused alumina producers' inventory by province from
Apr 2022 to Apr 2023(t)

5.2 Chinese white fused alumina producers' statistics

5.2.1 Chinese white fused alumina producers' operating rate down by 1.1% MoM in Apr
In April 2023, Chinese white fused alumina producers' operating rate was 39.68%, down by 1.1% MoM and up by 0.53% YoY.

Chinese white fused alumina producers' operating rate from Apr 2022 to Apr 2023 (%)

In April 2023, the operating rate of white fused alumina producers in Henan was 44.13%, up by 0.13% MoM and up by 3.04% YoY; that in Shandong was 32.69%, down by 2.09% MoM and down by 2.94% YoY; that in other area was 48%, unchanged MoM, up by 5.76% YoY.

Chinese white fused alumina producers' operating rates by province from Apr 2022 to Apr 2023

5.2.2 Chinese white fused alumina producers' output down by 2.22% MoM in Apr
In April 2023, Chinese white fused alumina producers' output was 81,290t, down by 2.22% MoM and up by 3.88% YoY.

Chinese white fused alumina producers' output from Apr 2022 to Apr 2023

In April 2023, the white fused alumina producers' output in Henan was 52,150t, down by 0.28% MoM and up by 8.53% YoY; that in Shandong was 26,640t, up by 5.99% MoM and down by 3.82% YoY; that in other area was 2,500t, unchanged MoM and up by 150% YoY.

Chinese white fused alumina producers' output by province from Apr 2022 to Apr 2023 (t)

5.2.3 Chinese white fused alumina producers' inventory up by 10.57% MoM in Apr
In April 2023, Chinese white fused alumina producers' inventory was 48,930t, up by 10.57% MoM and up by 56.32% YoY.

Chinese white fused alumina producers' inventory from Apr 2022 to Apr 2023 (t)

Chinese white fused alumina producers' inventory by province from
Apr 2022 to Apr 2023 (t)

In April 2023, the white fused alumina producers' inventory in Henan was 31,430t, up by 13.26% MoM and up by 29.34% YoY; that in Shandong was 16,200t, up by 4.51% MoM and up by 170% YoY; that in other area was 1,300t, up by 30% MoM and up by 30% YoY.

6 Custom Statistics

6.1 China's brown fused alumina export volume grew 44.72% MoM in Mar 2023
In Mar 2023, China exported 32,048.34mt of brown fused alumina, 29,892.16mt in the same period last year and 22,145.39mt in the previous month, up 7.21% YoY and up 44.72% MoM.
In Mar 2023, China exported USD62,339,422.00 worth of brown fused alumina, USD47,411,029.00 in the same period last year and USD41,034,651.00 in the previous month, up 31.49% YoY and up 51.92% MoM. The average price was USD1,945.17/mt, USD1,586.07/mt in the same period last year and USD1,852.97/mt in the previous month.
In Jan-Mar 2023, China exported a total of 95,285.79mt of brown fused alumina, 93,864.49mt in the same period last year, up 1.51% YoY.

China's export volume of brown fused alumina in previous 13 months

China's export price of brown fused alumina in previous 13 months

In Mar 2023, the top three export destinations of brown fused alumina for China were Japan, South Korea and India.
China exported 4,521.75mt of brown fused alumina to Japan, 5,713.51mt in the same period last year and 4,159.14mt in the previous month, down 20.86% YoY and up 8.72% MoM. The average price was USD1,510.53/mt, USD1,529.48/mt in the same period last year and USD2,476.52/mt in the previous month, down 1.18% YoY and down 39.00% MoM.
China exported 3,246.62mt of brown fused alumina to South Korea, 2,635.57mt in the same period last year and 2,226.59mt in the previous month, up 23.18% YoY and up 45.81% MoM. The average price was USD2,335.29/mt, USD2,126.73/mt in the same period last year and USD2,477.78/mt in the previous month, up 9.78% YoY and down 5.77% MoM.
China exported 2,497.85mt of brown fused alumina to India, 2,890.85mt in the same period last year and 3,040.00mt in the previous month, down 13.59% YoY and down 17.83% MoM. The average price was USD2,454.06/mt, USD1,104.87/mt in the same period last year and USD1,181.40/mt in the previous month, up 122.08% YoY and up 107.79% MoM.

China's export volume of brown fused alumina to top three countries in previous 13 months

China's export price of brown fused alumina to top three countries in previous 13 months

6.2 China's white fused alumina export volume increased 84.29% MoM in Mar 2023
In Mar 2023, China exported 35,942.05mt of white fused alumina, 26,092.99mt in the same period last year and 19,503.15mt in the previous month, up 37.75% YoY and up 84.29% MoM.
In Mar 2023, China exported USD54,068,143.00 worth of white fused alumina, USD33,249,025.00 in the same period last year and USD33,176,032.00 in the previous month, up 62.62% YoY and up 62.97% MoM. The average price was USD1,504.31/mt, USD1,274.25/mt in the same period last year and USD1,701.06/mt in the previous month.
In Jan-Mar 2023, China exported a total of 86,609.49mt of white fused alumina, 90,772.72mt in the same period last year, down 4.59% YoY.

China's export volume of white fused alumina in previous 13 months

China's export price of white fused alumina in previous 13 months

In Mar 2023, the top three export destinations of white fused alumina for China were Netherlands, Japan and South Korea.
China exported 4,580.02mt of white fused alumina to Netherlands, 902.50mt in the same period last year and 1,599.60mt in the previous month, up 407.48% YoY and up 186.32% MoM. The average price was USD1,201.65/mt, USD1,458.69/mt in the same period last year and USD760.16/mt in the previous month, down 17.61% YoY and up 58.16% MoM.
China exported 4,030.28mt of white fused alumina to Japan, 4,504.98mt in the same period last year and 2,491.35mt in the previous month, down 10.54% YoY and up 61.77% MoM. The average price was USD1,765.31/mt, USD1,401.45/mt in the same period last year and USD2,276.29/mt in the previous month, up 25.98% YoY and down 22.45% MoM.
China exported 3,100.77mt of white fused alumina to South Korea, 3,476.60mt in the same period last year and 1,867.70mt in the previous month, down 10.81% YoY and up 66.02% MoM. The average price was USD2,336.47/mt, USD1,415.25/mt in the same period last year and USD1,765.92/mt in the previous month, up 65.09% YoY and up 32.28% MoM.

China's export volume of white fused alumina to top three countries in previous 13 months

China's export price of white fused alumina to top three countries in previous 13 months

7 Relevant Industry News

7.1 Caustic calcined bauxite
The light burn calcined bauxite Al2O3 85%min prices stood firm in the past month, which lead to the stable production costs of brown fused alumina.

7.2 Alumina Powder
The price of alumina Al2O3 98.5%min Na2O 0.3%max stood stable in the past month, which supported the firm prices of white fused alumina.

7.3 Carbon electrode
Discouraged by the prices decline of petroleum coke, the mainstream prices moved down in the past month.

8 Market Outlook for Next Month

8.1 Chinese Market

8.1.1 Brown fused alumina 95%min 1-3mm EXW China
As the Market prices already decreased close to production cost line, most producers already cut or even halted production rather than lowering their prices further next month.

8.1.2 Brown fused alumina 95%min F36 EXW China
As the Market prices already dropped close to production cost line, most producers already decreased or even suspended production instead of cutting their prices further.

8.1.3 White fused alumina 99%min 1-3mm EXW China
As the alumina price keep stable, most producers would firm their prices next month.

8.1.4 White fused alumina 99%min F36 EXW China
As the alumina price keep steady, most producers would hold their prices firm next month.

8.2 Chinese Export Market

8.2.1 Brown fused alumina 95%min 1-3mm FOB China
Considering the stabilized domestic prices, the export prices would increase next month.

8.2.2 Brown fused alumina 95%min F36 FOB China
Given the flattened domestic prices, the export prices would rise next month.

8.2.3 White fused alumina 99%min 1-3mm FOB China
Considering the steady domestic prices, the export prices would move up next month.

8.2.4 White fused alumina 99%min F36 FOB China
Considering the stable domestic prices, the export prices would go up next month.

8.3 International Market

8.3.1 Brown fused alumina 95%min 1-3mm EXW India
Though the prices in Chinese Market decreased, most Indian producers still intend to keep their prices firm based on firm production cost and no inventory pressure.

8.3.2 Brown fused alumina 95%min F36 EXW India
Though the prices in Chinese Market decreased, most Indian producers still intend to keep their prices firm based on firm production cost and no inventory pressure.

8.3.3 Brown fused alumina 95%min 1-3mm in Warehouse Rotterdam
Based on the stable prices in Chinese export Market, the prices in Europe would keep stable next month.

8.3.4 White fused alumina 99%min 1-3mm in Warehouse Rotterdam
Based on firm prices in Chinese export Market, the prices in Europe would stay steady next month.