REFILE-UPDATE 1-China Sept alumina exports surge to highest level this year [Reuters]
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Source: Reuters
China September alumina exports surge to highest level this year | Reuters 2 Min Read BEIJING (Reuters) - China’s alumina exports in September surged more than fivefold from August to 165,839 tonnes, according to customs data released on Tuesday, the highest monthly volume this year. Last month’s exports rose from 29,722 tonnes in August and were up more than 3,400 percent from a year earlier, the General Administration of Customs said. China, the world’s largest aluminum maker, rarely exports large volumes of alumina, a raw material for making the metal. However, alumina producers have been shipping more cargoes overseas this year to cash in on a favorable arbitrage between domestic and international prices amid tighter global supplies. Worldwide output has dropped because of an outage at Norsk Hydro’s ( NHY.OL ) alumina refinery in Brazil and a strike Alcoa’s ( AA.N ) operations in Western Australia, while U.S. sanctions on United Company Rusal ( 0486.HK ) have made buyers war
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