SHANGHAI, Mar. 14 (SMM) – A source with Nalco said it sold 30,000 mt of alumina in March at USD 345/mt (on an FOB basis, departing from India’s Visakhapatnam Port), down USD 12/mt or 3.4% from February. The buyer was Dubal.
Nalco sold alumina at USD 357/mt on an FOB basis on February 16. LME aluminum prices fell in March, weighing down Nalco’s alumina FOB price, as the company usually uses LME three-month aluminum prices as benchmark. Nalco’s alumina FOB price provides reference for international alumina settlement price.
Falling LME aluminum prices have sent FOB prices for Australian and Indian alumina down. As a major alumina importer, China’s imported alumina prices will drop as a result. According to China Customs, China imported 840,000 mt of alumina during January-February, with over 90% coming from Australia.