SMM alumina morning review: Overall supply tightens in northern region, alumina producers reluctant to sell"
"Yesterday, the spot alumina market saw continuous high premium transactions, as some alumina plants in Shanxi reduced production due to stability issues in ore supply, and some plants in Shandong had limited calcination capacity due to environmental concerns. The overall supply in the northern region is tightening, and alumina producers are reluctant to sell, resulting in strong quotations. SMM expects the short-term domestic spot prices to remain strong and stable.
In the futures market, the market sentiment has eased following the explosion at the oil warehouse in Guinea this week, resulting in a slight decline in the market. However, due to the tightening supply of domestic ore, the decline in alumina futures is limited. More to follow...
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