India's state-run National Aluminium Company Ltd (Nalco) is selling 30,000 tonnes of alumina in a tender that closes on Friday, traders in Europe and Asia said on Tuesday. The alumina is being sold on an FOB basis for shipment in late February or early March, the traders said, with bids to remain valid for two business days after the bidding closes.
Earlier this month traders said Brazil's Cia Vale do Rio Doce (CVRD) sold 30,000 tonnes of Australian alumina for March shipment above $400 a tonne FOB.
"I have heard that bids were entered above $400 a tonne FOB, but we certainly did not bid anything like that number," one European trader said. A second merchant said the cargo went above $400 a tonne.