Australia alumina buyers outnumber sellers

摘要

Platts alumina price benchmark closed the weeknat $310/mt FOB Australia, gaining $1/mt fromna day ago and $2/mt in the last week but $4mt lighter than the same time last month. Thenglobal oversupply of past months has evaporated,nwith buyers now appearing to outnumbernsellers. Participants also noted that the spreadnbetween the Pacific and Atlantic markets hadntightened. Chinese material continues to fetch anpremium to the international market, fueling interestnin imports from Australia. Restricted bauxitenfrom Indonesia has curtailed Chinese aluminanoutput, also stoking anticipation of deeper runncuts. Although Indonesia has granted a numbernof bauxite mining permits since late June, Chinabasednmarket participants said there were fewnsigns of looming export shipments. Assorted permitsnare required of each supplier, to be obtainednfrom various government offices, and it remainsnto be seen how long the entire process willntypically take