Global aluminum profile supply source changes
According to customs data, from January to July, China's alumina exports totaled 340,000 tons, a year-on-year increase of 1024%.
"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." Industry insiders said.
In April this year, the United States announced sanctions against Russian aluminum giant Rusal, which led to a 60% increase in alumina prices this year. According to RUSAL's forecast, if the sanctions cannot be lifted in October, Rusal's output may fall by 30-70% year-on-year. The gap created by the sanctions against Rusal will need to be compensated by China, the world's largest aluminum producer.
However, the price of alumina has risen sharply, but it has brought operational pressure to downstream companies. “Alumina has recently risen faster, pushing up the cost of electrolytic aluminum, and some companies have fallen into the edge of losses.” Industry insiders pointed out.
China Aluminum fills overseas gap
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.
