Platts daily alumina assessment slips due to weak China aluminium margins

On Tuesday, the Platts daily assessment of alumina stood at $353.50/mt FOB, slipping 50c/mt as aluminium margins in China continue to be weak coupled with cash and credit constraints.

The freight rates are still considerably low which helps to cushion the FOB Australia alumina price, if the freight rates had not been depressed in the past couple of weeks, the FOB Australia alumina price would witness a much sharper decline.

A price hovering around the region of early to middle $350/mt is being considered a reasonable rate in the FOB Australian market while traders and smelter sources observed a buying rate of around $370/mt CIF China extending up to $375 CIF China.

The Platts daily assessment for Henan alumina was observed to be a stable Yuan 2,800/mt on a 70:30 cash and credit trading terms.

Shanghai Futures Exchange revealed the front month December aluminium contract to be Yuan 13,750/mt on Tuesday falling from last month’s 13,785/mt and 14,090/mt from two months ago.

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