China alumina prices to pick up in Q3 on increasing demand

摘要

China's alumina prices are expected to strengthen in the third quarter on rising demand due to primary aluminium smelters lifting production or starting up new operations, according to S&P Global Platts' Alumina & Primary Aluminium Outlook for Q3. Most market participants surveyed expected domestic alumina prices to increase from current levels to average yuan 2,300-2,400/mt ($326-$340/mt) in the July-September quarter. A small number said prices could reach yuan 2,600/mt. Some 80% of respondents expected China's domestic alumina demand to rise in Q3, and 70% saw alumina production increasing in the quarter. This was in stark contrast to the Coronavirus- impacted Q2 outlook, when 60% of respondents saw China's alumina output falling. Only 30% of participants expected China's demand for seaborne alumina would increase in Q3, while 40% were unsure.