Global alumina price may hit $400/t on rising Chinese import interest, say market participants

The global alumina price may hit $400 per tonne soon following the rally in the Chinese domestic alumina price and China’s growing buying interest in the seaborne market, sources told Fastmarkets on Monday May 20.

“We can see the global alumina price has a strong momentum and it may hit $400 [per tonne] if China keeps buying from ex-China regions,” an alumina trader said. Fastmarkets' benchmark fob Australia alumina index rose to $360 per tonne on Friday May 17 from $347.03 per tonne a day prior, gaining support from a deal involving Australian material at $373 per tonne to China which was reportedly concluded on the same day. Before this, the fob Australia alumina index had remained relatively stable since the beginning of May in a quiet seaborne market and amid weak demand, with its price...

Published

Hui Li

May 20, 2019

09:44 GMT

Shanghai