Platts Australian alumina assessment at USD 338 MT FOB was unchanged from Friday despite news of production cuts in Queensland, Australia due to storms and flooding.
Reports of the run cuts came during the Asian business day but market participants mostly said they planned to wait and see what impact they might have.
Rio Tinto Alcan confirmed Monday it has curtailed alumina production in Queensland due to severe weather from the remains of Tropical Cyclone Oswald.
Mr Ian McGoldrick spokesman said that the company has taken offline the 3.4 million tonnes per year Yarwun refinery and reduced the operating rate of the 3.95 million tonnes per year Queensland Alumina Limited refinery in Gladstone.
Mr McGoldrick said that the Yarwun refinery would restart when it was safe to do so. RTA's bauxite mining operations in Weipa, Queensland were also hit when Oswald first formed although operations have since normalized. Queensland's coal transportation network has been hit by floods. Gladstone has also been declared a disaster zone after a weekend of carnage from the storms, gusting winds and flash floods.
Two Chinese alumina importers said that they would put off reselling Australian material. The decision would depend on the duration of the production curtailments in Queensland.
Subsidiary Pacific Aluminium confirmed that it would not be extending a review of the refinery operations beyond January 31 despite an appeal from the state government to allow more time. PA is studying whether to revamp, suspend or decrease operations at the refinery.
Source - Alunews.net
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