Trafigura AG has made a bid for 32,000 tonnes of alumina, on
sale from bankrupt aluminum producer Ormet Corp, in direct
competition with Glencore Xstrata Plc.
Switzerland-based Trafigura offered to pay $8.54 million, or
$267 per tonne, for sandy calcined metallurgical grade alumina
that Glencore had already offered to buy, according to a
purchase contract dated Nov. 19 and filed in U.S. Bankruptcy
Court in Delaware.
The document is signed
by Trafigura officials but not by executives from Hannibal,
The price offered by
Trafigura tops the $8.44 million, or $263.75 per tonne, offered
by Glencore (
amm.com, Nov. 15) by $100,000.
Trafigura seeks to have the material delivered from
Ormets alumina refinery in Burnside, La., to a midstream
anchorage in the Mississippi River near New Orleans.
Ormet, which filed for
bankruptcy protection in February, has said it is trying to
sell what it considers to be excess assets, including raw
materials such as alumina, anodes, caustic soda and bauxite, as
well as finished goods. In addition, Ormet has is looking to
sell excess equipment, office furniture, fixtures, vehicles and
amm.com, Oct. 16).
Ormet has already received court approval to sell the
Burnside refinery to Leetsdale, Pa.-based alumina producer
Almatis Inc. for about $39.5 million (
amm.com, Nov. 12).