The Platts Australian alumina daily assessment at $262.50/mt FOB on Tuesday was based on a bid-ask range of $260-$265/mt.

The assessment slipped $1/mt from Monday, $2.50/mt on the week, and $15.50/mt on the month, with demand softened by low aluminum prices and poor smelting margins. Additionally there has been no shortage of alumina of various origins.

Trader and consumer sources said they were anticipating more downside before the market begins to stabilize, as global aluminum prices continue to stumble.

Participants also said there may need to be more refining and smelting curtailments before the alumina and aluminum markets start to see a meaningful recovery.

A trader noted that certain Chinese consumers were unable to import Australian material due to financial constraints.

The buyers have been sourcing smaller lots from the domestic market, the trader said.

Other Chinese importers recently said they were wary of imports as the market could potentially fall rapidly by the time the shipment reaches them four to six weeks later.

In recent weeks, alumina importers and consumers have been seeking to resell term contract cargoes from Australia, due to poor global aluminum smelting margins.

There have recently been potential buying interest in the Middle East but only for bargain buys. Chinese participants have withdrawn from the market due to a national holiday from October 1-7.