Chinese clamp down expected to support alumina, aluminium price strength

The successful government-led rebalancing of several Chinese industries has supported alumina and aluminium prices globally. However, smelter restarts might undermine prices in 2018, according to a new report by Bank of America Merrill Lynch (BofAML) Global Research. The banking group pointed out on Monday that alumina and aluminium have both rallied in recent months, with alumina – a critical raw material for aluminium smelters recently outperforming finished aluminium, suggesting “idiosyncratic” factors are at play, analysts advised.