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Increased low-priced transactions domestically and internationally, alumina prices are expected to decline in the short term

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Update time : 2025-01-17 16:56:40
[SMM Morning Comment on Alumina: Increased Low-Price Transactions Domestically and Internationally, Short-Term Alumina Prices Expected to Decline] : Recently, the weekly operating rate of alumina has continued to increase slightly, with no significant changes on the demand side. Low-price spot transactions have been frequent in the market, with a larger decline compared to earlier periods. In Henan, the spot transaction price this Thursday was RMB 4,050 per tonne, down RMB 830 per tonne from last Thursday's price of RMB 4,880 per tonne. However, as of now, alumina capacity has not yet entered a state of large-scale losses. Alumina supply is expected to maintain a high operating rate in the short term, with the supply and demand fundamentals remaining in a slightly surplus state. Overall, spot alumina prices are expected to continue their downward trend in the short term. Close attention should be paid to bauxite transaction prices, alumina costs, and overseas spot alumina prices in the near term.

Futures Market: During the night session, the most-traded alumina 2502 contract opened at RMB 3,694 per tonne, reached a high of RMB 3,735 per tonne, a low of RMB 3,640 per tonne, and closed at RMB 3,658 per tonne, down RMB 36 per tonne or 0.97 per cent. Open interest stood at 97,600 lots, an increase of 3,305 lots.
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