Views:0 Author:Site Editor Publish Time: 2021-05-21 Origin:Site
In 2020, due to the significant increase in the SMM-LME aluminum ratio, China's electrolytic aluminum import arbitrage window has opened. However, due to the shrinking domestic demand and serious surplus in India, the strong contrast between the domestic and foreign markets has caused a large amount of aluminum ingots to flood into China. Judging from China's monthly import data, the proportion of aluminum ingots that imported from India can reach 50%. In 2020, 290,000 tons of Indian primary aluminum flew into Chinese market, ranking second only to Russia.
The epidemic in India has returned and is even more fierce. The impact on the service industry has been particularly pronounced, and the manufacturing industry has also been dragged down, which may reduce the import of raw materials. At the same time, the economic recovery of other overseas countries and regions has accelerated, the SMM-LME ratio has returned below 1.18, China's import window has been closed, and the external demand for Indian aluminum ingots has correspondingly weakened.
Global alumina production in the first quarter of 2021 increased by 3.6% to 16.639 million tons
In the first quarter, the total alumina output reached 16.639 million tons, and 16.65 million tons in the same period in 2020, an increase of 3.57% year-on-year; the output in the fourth quarter of 2020 was 16.815 million tons, a decrease of 1.05% from the previous month.
From January to February 2021, Egyptian aluminum exports increase by 25% to US$126 million
According to the Egyptian Pyramid Online website, the Egyptian Building Material Export Council issued a monthly report that aluminum exports from January to February 2021 increased by 25% to 126 million U.S. dollars, compared to 101 million U.S. dollars in the same period in 2020.