SHANGHAI, Apr. 8 (SMM) – The FOB price for Australian alumina has been dragged down by falling LME aluminum prices to USD 322/mt, down USD 6/mt or 1.83% from before the Chinese Qingming holiday.
LME aluminum prices have dropped to USD 1,880/mt from USD 2,174/mt on February 25, 2013, a decrease of nearly 13.52%. Alumina prices tracked LME aluminum down to USD 322/mt from USD 352/mt in early February, down 8.52%.
China’s alumina imports grew significantly on falling Australian alumina prices. China imported 839,700 mt of alumina during January and February, up 16.21% YoY, with 99.60% of imported alumina coming from Australia.
Continuously falling Australian alumina prices have sent spot alumina prices at Lianyungang down slightly to RMB 2,640-2,690/mt (including tax).