Beijing, January 8 news: in 2021, China's alumina production and demand will further increase, but oversupply is likely to put pressure on domestic prices.
In the Platts Outlook Survey, 96% of the respondents expect that China's alumina demand will continue to grow in 2021 because of the growth in demand from China's primary aluminum smelters.
Half of the respondents expected the price of alumina in China in 2021 to be slightly higher than that in 2020, while 46% thought the price might be nearly flat.
Some people estimate that with the production of new production capacity at home and abroad, domestic alumina prices will continue to be under pressure. In 2020, the operating rate of China's alumina plants is very low. Once alumina prices rebound, manufacturers are expected to restart idle capacity.
The prospect of alumina import in 2021 is not clear. 29% of the respondents expect the import to increase, and 25% of the respondents think it is basically the same as that in 2020. 38 / 5 of the respondents took a wall riding attitude, believing that it depends on the price. If the shipping price falls, China will increase its imports.
