Chinese smelters resell contracted alumina from Australia

Some Chinese smelters are reselling alumina from contracted Australian suppliers and replacing it with cheaper local material, sources told MB. "Chinese consumers are looking for cargoes that can be passed on. It's the first time I've seen this happen," said a producer source. Subdued demand for the raw material over the last month has encouraged Chinese buyers to resell contracted volumes, they said. "Chinese consumers are buying at around $325 fob from Australia and reselling it on to western aluminium producers and they are buying local material to cover it," a trader told MB, noting that they were making a margin on both...

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