Asia Alumina: Australia Ticks Up 50 Cents/mt to $349/mt FOB

The Australian alumina daily assessment ticked up 50 cents/mt on Monday to $349/mt FOB.

Although Australian alumina has become too pricey for a large number of Chinese smelters, there has been a steady drip of buying among other consumer, trader and producer market participants worldwide, in the last couple of weeks.

A producer reported the sale last Friday, of a 30,000 mt lot at $349/mt FOB Western Australia, LC at sight, or $349.50/mt LC at BL plus 10 days deferred payment, for shipment in the second-half of March.

Additionally, a producer reported the purchase last Friday, of a 30,000mt clip at $348/mt FOB Western Australia, payment against documents, for shipment in the second-half of March.

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S&P Global Platts previously surveyed market participants on how they would convert at sight terms to the equivalent of 30 days credit, and a number had recommended adding 50 cents/mt.

A trader reported the purchase of a prompt, mid-March, bagged 30,000 mt shipment at $339.50/mt FOB Kendawangan, Indonesia anchorage. The payment terms weren’t immediately clear.

Platts assessed the Handysize freight rate at $15.95/mt on Monday for a 30,000 mt shipment in the second-half of March from Western Australia to Lianyungang, China.

On Monday, Australian alumina was costlier by about $17/mt and Yuan 116/mt to Chinese material from Shanxi province, in import parity terms.

The Shanxi daily assessment slipped Yuan 30/mt ($4.36/mt) on Monday to Yuan 2,880/mt ex-works in cash, dragged by aluminum and alumina stockbuild in China.