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...