Australian alumina assessment stable after four trades

After materials of assorted origins amounting to at least 180,000 mt changed hands last week through four trades, the daily assessment made by Platts for Australian alumina remained stable at $354/mt FOB.

Based on the opinions gathered from five Chinese smelters, producer and trader sources on Monday, it was seen that $373-374/mt CIF China and $354/mt FOB Western Australia were more or less the market rates in the past week.

Opportunistic purchases noticed in the last two trading days in China have pushed up the Australian assessment by $1.50/mt.

The Platts Henan assessments were unchanged from Friday as buyers are determined not to let the price rise in an environment where the credits are tight and Shanghai Futures Exchange prices are low.

The SHFE aluminum contract for front-month December continued to slide closing at Yuan 13,350/mt Monday, dropping from Yuan 13,490/mt last week and Yuan 13,785/mt a month ago.

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