Benchmark alumina prices have seen a steep decline this week for the first time since May, after a number of cargoes were reported to have traded at lower levels.
Metal Bulletin's daily fob Australia alumina index fell to $576.38 per tonne from $596.94 per tonne on Thursday September 20, after falling nearly 6% on Wednesday. The index is now 10% lower than a week ago, when it was assessed at $646 per tonne. Traders back then were predicting that it would climb even higher, but now a more bearish outlook has set in. "Traders are not going to pay a dollar more than they need to; they see the light at the end of the tunnel," a trader said."Units will now start...