China: Alumina Market 2024

Alumina Market Size in China

In 2022, the Chinese alumina market decreased by -0.5% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.1% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Alumina Production in China

In value terms, alumina production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 96%. Alumina production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Alumina Exports

Exports from China

In 2022, overseas shipments of alumina increased by 126% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 2,037% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, alumina exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2018 with an increase of 1,295%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia (X tons) was the main destination for alumina exports from China, accounting for a 56% share of total exports. Moreover, alumina exports to Russia exceeded the volume sent to the second major destination, South Korea (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +63.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+18.3% per year) and Japan (+23.3% per year).

In value terms, Russia ($X) emerged as the key foreign market for alumina exports from China, comprising 81% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3.6% share of total exports. It was followed by the United States, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +69.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+15.2% per year) and the United States (+2.5% per year).

Export Prices by Country

In 2022, the average alumina export price amounted to $X per ton, growing by 113% against the previous year. Overall, the export price continues to indicate prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Alumina Imports

Imports into China

In 2022, supplies from abroad of alumina decreased by -16.1% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 222% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, alumina imports declined rapidly to $X in 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 110%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of alumina to China, with a 57% share of total imports. Moreover, alumina imports from Australia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. Vietnam (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+133.5% per year) and Vietnam (+199.8% per year).

In value terms, Australia ($X) constituted the largest supplier of alumina to China, comprising 48% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total imports. It was followed by Vietnam, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from Australia totaled -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+109.1% per year) and Vietnam (+190.7% per year).

Import Prices by Country

In 2022, the average alumina import price amounted to $X per ton, shrinking by -11.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 63%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and India ($X per ton), while the price for Vietnam ($X per ton) and Kazakhstan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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