Alumina prices rally to seven-month highs; World’s primary aluminum expansion accelerates
February 20, 2020
ALUMINA PRICE ALERT.
Executive Summary
1. LME prices stuck in range-trading mode as US economic data outperforms, while market fear levels remain elevated.
2. ALUMINUM PRODUCTION UPDATE. World primary aluminum production remains in expansion mode; negligible impact from the coronavirus outbreak expected for now.
3. ALUMINA PRICE ALERT. Alumina prices rally amid Chinese buying.
4. LME Cash–3M contango narrows to a one-week low but is still supportive of cash-and-carry deals.
5. CHINA ALUMINUM SCRAP ALERT. China scrap imports plummet, but not because of import duties.
6. China’s aluminum prices supported by stimulus measures despite ongoing inventory buildups.
More details in full report.