Alumina price drops below $390/t on sudden increased cargo availability

Benchmark alumina prices continued to decline on Thursday March 11 due the sudden arrival of surplus cargoes into the market.

Fastmarkets’ daily fob Australia alumina index dropped to $387.26 per tonne on Thursday, down from $402 per tonne the previous day. The index is now 7.2% lower than at the start of April when cargoes were trading as high as $417 per tonne. “All a sudden there are multiple cargoes coming out of the woodwork from all angles and the price is rapidly falling,” a trader said. The most recent deal concluded on a fob Australia basis concluded at $380 per tonne for early May delivery. But traders noted in the past week there have been an increasing amount of different alumina shipments offered on the market. This is a stark difference to the past few months where the alumina market, especially in the Pacific, has been increasingly tight. “For the past year we have been used to one cargo a week – usually a Nalco...

Published

Alice Mason

April 11, 2019

16:07 GMT

London