ZHENGZHOU ALUMINA & BAUXITE CONF: Global alumina price bullishness hit by Alunorte progress - sources

摘要

Recent optimism for an uptrend in global alumina prices has beenknocked by the news that the Federal Court in Belém, Brazil, hasremoved a production embargo on Norsk Hydro’s Alunorte aluminarefinery, sources told Fastmarkets on the sidelines of the Alumina &Bauxite conference in Zhengzhou, China on May 16-17.This is the first of two production embargoes that need to beremoved but sources note this is a positive signal that Alunortecould soon resume fully production. Alunorte has capacity toproduce 6.4 million tonnes per year of alumina, 10% of aluminacapacity outside of China. The additional alumina supply fromAlunorte could cap an uptrend in seaborne alumina prices and maycause prices to fall later.