Alumina prices averaged USD 745 per metric ton in November, up 20.7% from October. On 29 November, the commodity traded at USD 786 per metric ton, up 11.4% from 31 October.
October’s historical rally continued in November, with prices reaching fresh all-time highs. Supply disruptions in recent months in key producers Australia, Brazil, Guinea and Jamaica drove these increases. That said, in late November, Rio Tinto lifted its force majeure for Australian exports, capping price gains.
This chart displays Alumina (US$/mt) from 2022 to 2024.
Alumina COMEX (prices in US$/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 | - |