Alumina prices have continued to accelerate so far this week, underpinned by tightness caused by disrupted production at Hydro's Alunorte alumina refinery.
Metal Bulletin's daily fob Australia alumina index was calculated at $476.39 per tonne on Tuesday April 10, up $24.67 or 5.5% compared with the previous day's assessment. "The market is tight, and only getting tighter by the day. You can easily justify paying higher prices. They will pinch your margins, but if you're running a smelter, the option of shutting and restarting is just so expensive," a trader source said. Tightness is expected to persist, with particular acuteness in the Atlantic, and there was no update on when the force majeure will be lifted during a presentation to press and analysts yesterday. "It's near impossible to find alumina," a second trader said. Benchmark alumina prices are now...