Hi ddzx,
How come the price has drop so much? I have found out another article bout Australia Alumina price-
AUSTRALIA ALUMINA: Bid, ask center $309-311/mt
Sydney (Platts)--17Jul2014/647 am EDT/1047 GMT
The Platts Australian alumina daily assessment at $310/mt FOB Thursday was unchanged from a day ago, but down $1.50/mt on the week, weighed by global longs, and credit and cash shortages in China.
Alumina bid, ask levels centered $308-309/mt against around $311/mt FOB Australia respectively.
Credit problems have limited the pool of eligible buyers in China, however three to four consumer/reseller sources appear to be eying shipments for late August or during September. One reported turning down the chance to buy a mid-August cargo at $311/mt FOB Western Australia, saying his ceiling was $328/mt CIF China, or the equivalent of about $309/mt FOB Australia.
Two others thought $308-309/mt FOB Australia may be a good buy. A fourth Chinese consumer/reseller said he was sorting out trade financing arrangements and unable to discuss prices.
In addition, a western buyer said he was in discussions with sellers of three alumina cargoes, one of which was of Australian origin.
In recent weeks, buyers and sellers have said they were expecting Chinese demand to pick up for shipments in the fourth quarter, citing seasonal restocking prior to the cold season and Chinese New Year. Several sources have also said they were optimistic that China's tight credit situation may ease in coming months.
Moreover, with the Australian alumina market now almost at parity to Chinese domestic prices in import parity terms, more Chinese buyers are likely to be keen on imports, a western trader said.
The Platts China alumina daily assessment Henan province was stable at Yuan 2,440/mt ($396) ex-works for 70:30 cash and credit payment terms in quiet trade.
Alumina offers in Shanxi and Guangxi provinces have increased due to smelter restarts in south China and higher aluminum prices on the Shanghai Futures Exchange, buyers and sellers said. However, tradable levels appear to have held steady, as many smelters were still loss-making as the current metal price, they added.
"It's a difficult time for smelters in China, they don't want to push up their procurement costs," a producer said.
In Shanxi, tradable levels stood at Yuan 2,400-2,440/mt for cash up to 30% credit. Down south in Guangxi, the figures were also steady at Yuan 2,250-2,280/mt cash to partial credit.
The front-month August aluminum contract on the SHFE closed at Yuan 13,745/mt Thursday, up from Yuan 13,585/mt last week and also from Yuan 13,460/mt a month ago.
--Joanna Lim,
[email protected]
--Sui Ling Phang,
[email protected]
--Yuencheng Mok,
[email protected]
--Edited by James Leech,
[email protected]
Similar stories appear in Metals Daily
http://www.platts.com/Products/metalsdaily
http://www.platts.com/latest-news/metals/sydney/australia-alumina-bid-ask-center-309-311mt-26836050
