Alumina price falls to three-month low on plentiful cargoes, China's absence

The benchmark fob Australia alumina index hit a three-month low on Friday October 2 with wide availability of cargoes and weak demand pressuring the market.

Fastmarkets' daily alumina index, fob Australia was at $264.19 per tonne on Friday, down from $268.54 per tonne at the start of the week. The index is now at its lowest since July 9.
A deal concluded on Thursday at $264 per tonne fob Western Australia for 30,000 tonnes pushed the index lower. Earlier this week, another 30,000-tonne cargo traded at $268 per tonne fob Gladstone, Australia.
"There is a lot of alumina around for the next few months of loading. If you need a cargo, you can find it easily for any loading or origin," a consumer.

"I expect there will also be some more tenders out in the market...

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