China's Aluminium Value Chain Quarterly Update
Quarterly Update_ Q4 2017
Highlights of this issue:
China’s bauxite imports fell 9% QoQ to 17.5 mln t, driven mainly by October’s lower import figures, which were a response to higher inventories and an anticipation of forced alumina production cuts.
Domestic alumina prices increased sharply, peaking at RMB 3,803/t end October, before falling to RMB 2,865/t by end-Q4
China’s Q4 alumina production, though down 4% (or 0.7 mln t) QoQ, remained a historical high at 17.3 mln t
Primary aluminium inventory reached 1.76 Mt by the end of 2017, a significant YoY increase of 1.3 mln t, or 340%
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