Alumina prices averaged USD 731 per metric ton in December, down 1.9% from November. On 31 December, the commodity traded at USD 672 per metric ton, down 14.5% from 29 November.
Prices cooled slightly from record highs in December after Rio Tinto lifted its force majeure for Australian exports. Meanwhile, in early January, China’s State Power Investment Corporation announced that it will build an alumina processing plant in top bauxite producer Guinea, boding well for supply ahead.
This chart displays Alumina (US$/mt) from 2023 to 2024.
Alumina COMEX (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Alumina COMEX | 357 | 349 | 336 | 334 | 366 | 427 | 504 | 695 |