SPOT market prices for metallurgical alumina are reported to have come under pressure recently owing to a slowdown in Chinese buying. Traders are currently quoting 190-210 dollars/tonne fob basis, down from the 200-220 dollars level of earlier in the year. "There are healthy stocks of alumina at Chinese ports, so consumers are waiting until these have been absorbed before coming back into the market," said one European trader, who added that a lower than expected volume of buying by western aluminium producers has made the market a little nervous. Spot business accounts for only around 10-15 percent of the total market, with China, Russia and Iran the main buyers.
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