In the second force majeure action reported by MetalMiner today, power outages in Hydro’s Brazilian Alunorte alumina refinery may impact alumina deliveries to primary producers. The plant serves as the largest alumina refinery.
On Tuesday, the aluminum cash price fell by 1.9 percent on the LME, landing at $1,848 per metric ton and making it the day’s biggest mover. On the LME, the 3-month price of aluminum declined 1.8 percent to $1,888 per metric ton. The Indian aluminum cash price weakened by 1.4 percent.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged. The price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar saw little movement. The cash price of Chinese aluminum showed little movement yesterday, hovering in the $2420-$2440 per metric ton range.