MetalshubTalks 013
Price Discovery in Alumina and AluminiumPrice Discovery in Alumina and Aluminium
22 September 2026 | 13:00 CEST
About the episode
Alumina and primary aluminium sit side-by-side in the value chain, but the way their market prices are formed could not be more different. Aluminium operates on a mature, exchange-traded benchmark with forward futures curves. Alumina, by contrast, relies heavily on price reporting agency (PRA) index assessments derived from a spot market where only a fraction of global volume freely trades.
After two years of historic price swings, the limitations of thin spot liquidity and survey-based indices have come into sharp focus. At the same time, regional premium dispersion, shifting trade flows, and regulatory milestones like CBAM are driving demand for clearer, transaction-backed price discovery across the entire aluminium complex.
In this MetalshubTalks webinar, we examine what goes into the numbers everyone quotes, how physical reference prices are constructed, and what it takes to build a reliable price signal in thin markets.
The discussion explores:
- Where the alumina market stands after two years of extreme price volatility
- How physical reference prices are built in spot markets, and the role of LME Insight
- How aluminium established its exchange-traded model, and why alumina pricing decoupled from LME percentage formulas
- Managing regional basis risk, physical premiums, and emerging variables like CBAM
- How digital trading platforms and PRAs can complement each other to increase observed market evidence
- LME Insight’s roadmap for building out a broader aluminium suite
MetalshubTalks host Samir Jaber is joined by Abdi Salad, Base Metals Pricing Lead at LME Insight, and Dr. Sebastian Kreft, Co-Founder and Managing Director of Metalshub, for a conversation that combines market analysis, pricing methodology, and practical outlook.
Join the conversation to gain clarity on how price discovery is evolving across the aluminium supply chain.
This session is designed for commercial and sales teams, metal traders, procurement leaders, risk managers, and market analysts active in alumina, primary aluminium, and value-added products.
About the Speakers
Samir Jaber
Samir is the host of MetalshubTalks and Content Marketing Manager at Metalshub. He has a background in engineering, materials science, nanotechnology, technical writing, and digital marketing. He is the author of a book on B2B storytelling and communication and has written 500+ articles, reports, and scientific papers. Samir has also been featured in numerous industry outlets over the past 5+ years.
Dr Sebastian Kreft
Sebastian is Co-Founder and Managing Director of Metalshub, with 15+ years of experience in strategy, metals trading, and commodity markets. Together with Frank Jackel, they share a clear mission: bringing greater transparency and data-driven decision-making to raw material procurement and trading across all industries.
Abdi Salad
Abdi is a Base Metals Pricing Lead covering Aluminium at LME Insight. He is well-versed in the commodities sector, the metals industry and in the financial markets. Previously, he built extensive price reporting and market analysis expertise across leading PRAs. Abdi brings a deep, practical understanding of physical price discovery, pricing methodologies, and how benchmark indices function in illiquid and volatile markets.
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