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Aluminum March 17, 2020 04:30:36 PM

China's MIIT Report Warns of Alumina Oversupply in 2020

Paul Ploumis
ScrapMonster Author
The price of alumina is expected to further edge higher, said market sources.

China's MIIT Report Warns of Alumina Oversupply in 2020

SEATTLE (Scrap Monster): The Chinese Ministry of Industry and Information Technology (MIIT) published a new report which warns of oversupply of alumina in the current year, mainly on account of reduced demand for aluminium.

The report released by MIIT raw materials department suggests that government restrictions on alumina capacity expansion in the country could help in addressing the issue. The outlook for downstream alumina consumption continues to remain weak, amidst risks of aluminium overcapacity. The government should take necessary action to boost the consumption of high-end aluminium products, which are mainly used by aviation and automotive sectors, the report said.

The price of alumina is expected to further edge higher, said market sources.

Meantime, the country produced 5.85 million tonnes of primary aluminium in the opening two months of 2020. This is higher by 2.4% when compared with the production during the corresponding two-month period in 2019. The steady production levels are mainly attributed to uninterrupted operations of smelters even in the midst of coronavirus outbreak. The China’s national Bureau of Statistics (NBS) noted that there has been a tremendous jump in aluminium stocks in the country.

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