The latest alumina tender by India's National Aluminium, or Nalco, has gone for $354 a metric ton, market sources told Dow Jones Newswires.
This is down some 16% from the last Nalco tender on April 25, which went for $423/ton.
The tender is for 30,000 tons, with shipment in July. The winning bidder was Noble Resources Ltd., the market sources said.
The last several tenders have gone for over $400/ton, although there wasn't a tender through May.
Nalco is estimated to have lost around 8,000 tons of alumina production in a threeday blockade of its refinery in eastern Indian state of Orissa earliertthis month.
Spot alumina prices have been slipping gradually over the last several weeks after rallying in the first quarter due to a January and February strike in Guinea aimed at toppling Lansana Conte, the country's long-time president.
The strike saw production of bauxite, a key ingredient to make alumina, halted at Alcoa's CBG operations, the country's main producer. Alumina output at Russian Aluminum's Friguia refinery was also cut by less than 10%.
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