LONDON, Nov 7 (Reuters) - U.S. aluminium maker Alcoa ( AA )
said on Thursday it had halted bauxite shipments from
Brazil's Juruti port due to a stranded vessel in the waterway.
This was the latest in a series of disruptions to hit the
aluminium raw material supply chain, which have pushed alumina
prices to record highs and supported aluminium prices.
Alcoa ( AA ) declared force majeure at its bauxite mine in the
Juruti region on Wednesday as an inaccessible waterway hindered
its ability to supply its customers, an Alcoa ( AA ) spokesperson said
in an emailed statement to Reuters.
The statement gave no estimate on when shipments would
resume.
One trader source said the vessel has been stranded near
Juruti port since late October and bauxite has not been moving
for almost 10 days.
The Juruti area has one of the world's largest deposits of
high grade bauxite, which is typically crushed and refined into
alumina. Alumina is the major raw material for making primary
aluminium.
Three-month benchmark prices for aluminium on the London
Metal Exchange surged to a five month high of $2,732 per
metric ton on Thursday. It last traded at $2,706 as at 1519 GMT.
Alumina prices rallied last month after disruptions to
shipments in Guinea and Australia.
The most traded alumina contract for January expiry on the
Shanghai Futures Exchange (ShFE) has jumped 25% since the start
of October to 5,279 yuan per tonne.