China alumina resales continue: Alcoa
Mar 10, 2011 | 03:15 PM
| Anne Riley
Tags
Tim Reyes,
Alcoa,
China,
aluminum,
alumina,
anne riley
NEW YORK — Some Chinese aluminum smelters continue to resell alumina they purchased on long-term contracts to buyers in the spot market, helping to ease non-Chinese market tightness, a top Alcoa executive said.
"The Chinese can buy domestically significantly cheaper than they can buy f.o.b., so they have a strong incentive to sell the cargoes they originally bought for import and buy domestically. And that’s actually helping to balance out the rest of the market," Timothy D. Reyes, president of Alcoa Materials Management, told AMM. "All those cargoes that are getting sold by the Chinese (are) helping to keep....
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