The Platts Australian alumina daily assessment slipped 50 cents/mt on Thursday to $336.50/mt FOB, as the market evolved from a tight or snug position, to being better supplied.
In the last couple of days, a number of producer, consumer and trader sources have said the market appeared to be under downward pressure as more tonnage have become available.
On Thursday, a supplier said he was expecting higher production rates in China to drag on the global alumina market. He thought the next March trade was likely to settle below $337/mt FOB Western Australia.
In recent days, buyers guidance has been mentioned a number of times at $335/mt FOB Australia.
There are tons to be had from Australia, India, Vietnam and possibly, Indonesia and Brazil.
Additionally Chinese market participants have made overtures of being open to reselling imported tons, sources said in the last week.
China's financial markets are set to reopen on Friday after a week-long holiday for the Lunar New Year.
