ALUMINA INDEX: Prices hit 18-month high as ‘nervous’ Chinese buyers seek units

Benchmark alumina prices continued to rise over the past seven days as Chinese smelters sought seaborne stocks to build up their inventories in line with their new year production schedules.

Metal Bulletin’s fob Australia alumina index was calculated at $333.07 per tonne on Thursday December 1, up from $319.79 a week earlier.
Chinese alumina is in tight supply as coal transportation has been given priority in order to meet winter demand for central heating in northern China, local market sources told Metal Bulletin.
As a result, smelter enquiries for imported raw materials have increased, which, in turn, has put pressure on supplies of Australian alumina.

Published

Charlotte Radford

Susan Zou

December 01, 2016

16:01 GMT

London