MethodologyContact usLogin
Fastmarkets calculated the benchmark daily alumina index, fob Australia at $278.25 per tonne on Friday, down from $277.14 per tonne on Thursday. It has hovered between $277 and 278 per tonne over the past week.
Key drivers:
Key quotes: “There is nervousness in the market because we are already pricing at a number way below where most thought the floor was. The positive is that there is a lot of liquidity and we seem to be holding firm between $277 and $280 per tonne” – producer 1 “China has taken a lot of the excess cargoes. I have been surprised by the amount of China deals but they cannot mop up our extra material forever. There is only so much they can take into those ports” – trader 1 “The thing keeping people up at night is the fact that aluminium demand is so poor. That isn’t helping anybody and it is a big concern, the aluminium market is terrible. How can the alumina market see any light when it is reliant on the aluminium market perking up?” – trader 2
LME alumina futures contract: