Alumina Market Will Shift to Surplus in 2019 on Booming Production

摘要

Australia spot prices are currently trading at $378 per mton, down 6% m/m and trading at their lowest level since March 2018. As anticipated by HARBOR since April of last year, alumina spot prices have continued to fall as the market has been gradually discounting: a) Hydro's Alunorte full restart this year, b) full lifting of US Sanctions against UC Rusal and, c) forecasts of booming production ahead. In China, prices have also fallen (1.7 % m/m) and remain at a seven-month low. In India, Nalco's last spot alumina tender for 30,000 mton was awarded at $371 per mton FOB India.