China alumina price rises amid panic buying following Alunorte disruption

The price of alumina in China rose this week amid a bout of panic buying among participants, who worried that reduced supply in the seaborne market after a disruption at Hydro's Alunorte refinery in Brazil would in turn affect the Chinese domestic market.

Hydro announced on Tuesday August 18 that it had halted operation of the pipeline transporting bauxite from its Paragominas bauxite mine to the Alunorte alumina refinery for extended maintenance.
The stoppage, which is expected to last two months, means production has been temporarily stopped at the mine and Alunorte's alumina production has been reduced to 35-45% of full capacity.
Activity in the Chinese alumina market picked up immediately following the news, with higher offers continuing to be heard as the week progressed.

Fastmarkets' weekly price assessment for alumina metallurgical grade, ddp China was 2,330-2,360 yuan ($337-341) per tonne on Thursday, up by 40-50 yuan per tonne from 2,280-2,320 yuan per tonne...

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