Nalco floats new tender for 10,000 tonnes of alumina

India's National Aluminum Co (Nalco) has floated a tender for 10,000 tonnes of alumina, which will be opened on March 16.

This latest tender comes after the company sold 25,000 tonnes of alumina for $405 per tonne fob Vizag this week, rising from $393 per tonne in the last tender in February.

Nalco wants to take advantage of the better prices in the world spot market for alumina, traders said.
The jump in prices since the start of the year has been attributed to strong demand from China, and the two strikes in Guinea, the world's largest bauxite exporter.

However, with the strike now over and its impact on supply minimal, focus could return to the production surplus which is forecast to weigh on prices this year, market participants said.

Fob prices for Nalco's latest tender may be lower than normal as the small quantity on offer may mean it will be difficult to get freight at low rates for the cargo, traders said.