SMM Weekly Alumina Review: Capacity Up, Prices Down; Loose Market Persists

[SMM Weekly Alumina Review: Spot Alumina Prices Continue to Decline, Operating Capacity Slightly Increases]

Overall, in the short term, alumina operating capacity is expected to continue increasing, and the spot alumina market remains relatively loose compared to earlier periods, with spot transaction prices continuing to decline. In the short term, there are no clear expectations for production cuts in alumina, and supply remains stable. However, some aluminum production cuts or technological transformation capacities in south-west China are gradually resuming production, leading to a slight rebound in demand. Nevertheless, this is unlikely to reverse the relatively loose supply situation in the spot alumina market. Moving forward, close attention should be paid to bauxite prices and supply conditions.