ABARE Predict the price of Alumina will fell 10% in 2008

ABARE predict that alumina price will fell 10% to 296$/ton from 330$/ton. Although world primary aluminum and alumina consume is still strong, China, Australia, Brazil and Russia may surpass the increase of demand. It predicts aluminum output will increase 10%, it also stressed that if Genie output hasn’t been damaged and Jamaica factory hasn’t destroyed by hurricane, the increase may more. It predicts that alumina output will rise 7% to 86.8 million ton next year. Brazil, India, Australia and Russia will be the leading countries of the increase. It also stressed that this predict may affect by Indonesia bauxite problem. Indonesia government has declared to prohibit illegal bauxite explore and limit bauxite export, which may place bad influence to China alumina industry.