Liquidity in the Pacific alumina market picked up on Thursday November 15 with prices on a fob Australia basis hitting a fresh eight-month low.
Fastmarkets MB's benchmark daily fob Australia index stands at $410.98 per tonne on Thursday, down from $423.33 per tonne the day before. The index is now at levels not seen since March 2018 before Hydro declared force majeure at the Alunorte refinery in Brazil. The 50% output cut at Alunorte meant spot deals and liquidity in the alumina market have thinned over the past few months. But liquidity picked up today because some cargoes became available before year end. "There has been such little liquidity over the past few months, and no deals for weeks on end, now we have seen three transactions in one day," a trader said. "Naturally the market...