Sydney—The Platts Australian alumina daily assessment rose $1/mt Thursday to $227/mt FOB, spurred by buyers seeking to scoop up cheap cargoes. Market sources said alumina was affordable relative to aluminum prices on the London Metal Exchange and Shanghai Futures Exchange, and a good time to buy the dip. Additionally, Chinese participants said Australian alumina was substantially cheaper than domestic units, in import-parity terms. At least seven consumer, producer and trader sources indicated the tradable value at $227/mt FOB Australia for alumina cargoes aligning to Platts methodology. Two other trader and consumer sources put the tradable value at $226/mt FOB Australia.
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