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Traders said on Wednesday (March 2) that the FOB price of spot alumina may soar to above US$420 due to tight supply and the recent increase in LME aluminum prices. In the coming months, market participants will pay close attention to the progress of the bids for Indian alumina producers. On Tuesday, India’s state-owned NALCO Corporation suspended the sale of 25,000 tons of alumina on March 25-29. According to a European trader, a large buyer’s offer (FOB) was as high as US$424/ton. .
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