Australian Alumina Stable Overnight But Down $6/mt Last Week

The Platts Australian alumina daily assessment at $244/mt FOB on Thursday was unchanged from a day ago, but has fallen $6/mt last week.

The market has been under downward pressure from unplaced cargoes in Australia, China, India and the Americas.

On Thursday a smelter reported being approached by a trader seeking to offload multiple Australian shipments between July and December.

A second smelter reported placing a bid at the equivalent of $240/mt FOB Western Australia that was subsequently rejected, for a 30,000 mt shipment in the second half of July.

On Wednesday, a third consumer had reported knocking back a July offer at $246/mt FOB Australia.

Platts assessed the Handysize freight rate at $11.40/mt on Thursday for a 30,000 mt shipment in July from Western Australia to Lianyungang. The freight rate has firmed 55 cents/mt in the last week and $1.65/mt in the past month.