Alumina Atlantic premium at highest since Jan 2019; bearish Pacific market

The premium on alumina cargoes in Brazil compared to Australian units is at its highest in more than two years on Thursday March 11 due to continued lack of balance in supply between the Pacific and the Atlantic, sources said.

Fastmarkets' alumina index adjustment to fob Australia index, Brazil was at a premium of $7.83 per tonne on Thursday, widening from $0.90 per tonne on February 23.
"It's no surprise that the Atlantic premium has widened. It's hard to get tonnages there so someone has to pay up to secure the tonnes," a trader said.
The Atlantic market is usually in a discount to the Pacific and at $7.83 per tonne, this is the widest premium since January 17, 2019, when the index was calculated at $8.75 per tonne.

There remains a shortage of units in the Atlantic region meaning deals can now command a...

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