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About UsShanxi Senze Energy Technology Group Co., Ltd. is a large-scale private enterprise group that operates across regions and industries.
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Alumina prices in China are rising due to increased aluminum production capacity at smelters.
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Industry News
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2023/03/09
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HONG KONG, Sept. 18 (Reuters) - Chinese aluminum smelters are expected to actively seek raw material alumina in both domestic and international markets before the end of the year, as smelter capacity increases and they expect alumina prices to remain strong.
Hong Kong, September 18 - Before the end of the year, Chinese aluminum smelters are expected to actively seek alumina raw materials in both domestic and international markets, due to increased smelting capacity and their expectation of a strong aluminum price trend.aluminum priceis expected to continue its strong momentum.
Strong buying may push up global aluminaprices，which in turn will help support global aluminum prices. Since June, theprice of aluminashipped to China
has risen by about 10%, "Smelters are buying alumina frantically this month," said a trading manager at a privately-owned alumina producer. "Some traders are also using it to stockpile inventory. Because alumina prices are likely to remain strong for the rest of the year."
Traders and sources at aluminum smelters said that smelters in the northwestern provinces are stocking up on alumina before winter arrives, including Xinjiang Province, China's largest aluminum producing region, as rail and road transport slows down in winter.
A general manager of a state-owned smelter said that some smelters have increased purchases to stockpile inventory after Chinese banks slightly increased lending.
He added that smelters' alumina inventories were low during the first half of the year when credit policies were tightened.
The general manager also said: "Alumina prices will rise to 3,000 yuan/ton by the end of 2014."
Traders said that the domestic spot price of alumina has risen to around 2,700 yuan per ton (US\$439), reflecting increased demand, compared to 2,300-2,400 yuan in June.
The jump in smelting capacity will also fuel demand.
An analyst at Zhaoshang Futures said that before the end of the year, smelters may restart about 300,000 tons of idle aluminum capacity; about 500,000 tons of aluminum capacity has been started since May.
The analyst predicts that about 2.2 million tons of new capacity will come online in the second half of the year, with most coming online in the fourth quarter.
Traders said that this week, the price of imported Australian alumina by Chinese importers is US\$360-370 per ton, CIF basis, higher than about US\$330 in June.
A trader at an international trading company said that the selling price of alumina inventory in bonded warehouses at ports in eastern China is US\$375, adding that Chinese importers are increasing inventory.
**Bauxite**
Smelters and traders said that alumina prices are expected to remain strong next year as bauxite inventories are depleted after Indonesia's export ban.
China imported 8 million tons of bauxite in January, of which 610 tons came from Indonesia. However, China's bauxite imports in July were only 3.1 million tons.
China Hongqiao Group said last month that it has increased orders with Australian and Indian miners to replace some of the losses from Indonesia.
However, other Chinese alumina smelters may find it difficult to find new bauxite supply sources, meaning that global suppliers are expected to raise prices in 2015, pushing up alumina prices in China.
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Senze Group
Senze Energy
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