Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.
Fastmarkets'
alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.
A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October loading.
"I was expecting someone to have to pay, but it shows that really not a lot is out there. It's a very thin market," a trader said.
"The market is very tight at the moment, especially with the disruptions in the Atlantic and the high freight rates not making it easy for people to move tonnages around," a producer said.
The index had been steadily climbing over the past few days due...