Alumina prices jump again even as China takes a step back

Ex-China demand for spot alumina units was enough to give benchmark prices a further push this week, as Chinese buying interest remained muted after the recent Golden Week holiday.

Metal Bulletin’s fob Australia alumina index settled at $469.74 per tonne on Thursday October 12, up 5.5% compared with $445.29 per tonne a week ago. This week’s calculation is the highest since Metal Bulletin launched its alumina index in August 2010. A cargo of Australian alumina traded at $479 per tonne on Thursday, though offers persisted around $450 at the beginning of the week. “The international market had been sitting back, but it’s the other way around now; the Chinese are hurting at these kinds of prices,” a producer source said. Australian spot units are hard to come by, but sellers have been able to exercise flexibility in contracted shipments in order to take advantage of...

Published

Charlotte Radford

Susan Zou

October 13, 2017

02:45 GMT

London, Shanghai