Featured in this issue of
Australian Resources & Investment
It has been a tough 12 months for bauxite and alumina. CRU’s Alumina Price Index (API, Western Australia FOB ) fell by more than 30 per cent between H1 2015 and H1 2016, from an average of $340.79 per tonne to an average of $236.14 per tonne.
The refinery curtailments and closures that ensued will have a long-term impact on bauxite and alumina markets, shifting the flows of alumina from East to West, and of bauxite from West to East.
Tough 12 months for alumina
In early January 2015, CRU’s API – a benchmark price for global alumina, assessed on a Western Australia FOB basis – traded in excess of $350 per tonne. Twelve months later (in January 2016), the price had dropped to a low of $197 per tonne.