[SMM Weekly Review: Sluggish Spot Alumina Transactions, Slight Pullback in Alumina Prices in Shanxi and Henan]
Supply side, domestic alumina operating rates remained high. Although some enterprises reduced roasting capacity due to winter environmental protection measures and maintenance, the significant profitability of alumina stimulated high enthusiasm for production increases among alumina refineries. Additionally, some alumina refineries slightly raised their operating capacity.
Demand side, downstream aluminum smelters faced severe losses, with some aluminum plants in south China undergoing minor maintenance and production cuts. Meanwhile, some aluminum plants initially planned to complete technological transformations and resume production, but the high cost of raw materials stalled the progress, leading to a slight decrease in demand.
Overall, the previously tight alumina supply situation has improved. However, buyers and sellers of alumina are still in a phase of negotiation. Suppliers maintain a sentiment to stand firm on quotes, while downstream players primarily execute long-term contracts and restock at lower prices, showing low acceptance of high prices. In the short term, prices are expected to remain stable with a slight decline.
![El mercado de futuros rompe al alza, elevando el centro, las cotizaciones de ADC12 suben, el impulso alcista aún espera la verificación de la demanda [Revisión diaria del precio del ADC12]](https://imgqn.smm.cn/usercenter/cgspx20251217171725.jpg)
