Alumina market turns bearish on aluminium price drop

The recent decline in aluminium prices stoked bearish sentiment in the alumina market, pushing prices down 5% on Friday October 29.

Fastmarkets calculated its daily alumina index, fob Australia at $452.16 per tonne on Friday, down from $476.73 per tonne on Thursday.
A deal was reported on Friday for 30,000 tonnes at $450 per tonne fob Western Australia, for loading in the second half of November loading.
The deal is 6% lower than where the previous deal, which was concluded at $479 per tonne on October 25.
“With the aluminium price dropping [by] $400 per tonne and there being a lot of length in the market, alumina prices had to decline,” a trader told Fastmarkets.

“Coal prices are...

Published

Alice Mason

October 29, 2021

16:44 GMT

London