FOCUS: Deterioration in China-Australia relations knock confidence in seaborne alumina trade

China’s National Development and Reform Commission announced a “suspension of all activities” under the framework of the China-Australia Strategic Economic Dialogue on Thursday May 6, due to what it called disruptive measures by Australian officials, causing concerns for the import of alumina sourced from Australia.

“Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination,” the Commission said on its website.
Tensions between the two countries have caused market-wide concerns that China’s alumina imports from Australia could be disrupted, which may in turn put downward pressure on the seaborne alumina price.
Fastmarkets assessed its benchmark alumina index, fob Australia at $273.63 per tonne on Thursday, down by $2.18 per tonne from the prior day, reflecting an alumina deal concluded on the same day.
One cargo of 30,000 or 35,000 tonnes (at seller’s option) originating from Western Australia was reported at $272.75 per tonne on May 6.

The alumina index had been starting to recover slightly...


Hui Li

May 07, 2021

12:09 GMT