★ Enhancing Chinese dependence on imported bauxite
New alumina projects in China including Guangxi and Inner Mongolia would completely depend on imported bauxite. Successful technical upgrades on alumina projects enable refineries in Shanxi, Henan and Chongqing to use both imported and local bauxite flexibly.
★ Increasing global bauxite supply and fiercer competition
Guinea has increasing new bauxite projects and Indonesia sees bauxite export quota increase. Competitors from new origins including Ivory Coast and Turkey strive to develop Chinese market.
★ Upcoming alumina futures on SHFE
SHFE is scheduled to launch the alumina futures in 2021. Alumina futures will become a key tool for aluminum enterprises in the market.
★ New structural adjustment in Chinese aluminum industry
Many new aluminum projects in Southwest China would come on stream in H1, 2021, which brings a new change for the aluminum supply.
