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Stockreport

China stockpiles alumina for export as supply crunch drives record prices [Reuters]

ALCOA (AA)  More Company Research Source: Reuters
Last alcoa earnings: 10/17 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF China stockpiles alumina for export as supply crunch drives record prices | Reuters Reuters Staff 4 Min Read * Spot cargo of alumina to Brazil traded at a record $800/T -CRU * China could export 120,000-180,000 tonnes of alumina in May -CRU * Traders readying alumina in Shandong, Guangxi ports for export By Melanie Burton MELBOURNE, April 19 (Reuters) - Chinese traders are preparing to export alumina to reap the profits from record prices for spot cargoes after the United States imposed sanctions on Russia’s United Company Rusal, among the biggest producers of the aluminium raw material. China is the world’s the biggest producer and consumer of alumina, a compound extracted from bauxite ore that is then smelted into aluminium metal. The Rusal sanctions have upended the aluminium supply chain, as companies cut contracts to use Rusal metal, leaving producers of cans or auto parts scrambling for supplies, which is likely to feed into higher costs for end users such as automakers, like To [Read more]

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