Alumina price to stay firm amid tightly balanced market

The supply side dynamics are continuously evolving, with factors such as company expansion and maintenance. There's no expectation of mine operations resuming in the Sanmenxia area in the short term. As the weekend nears, the futures price of alumina has returned to 3,100 yuan/mt, and the futures-spot price difference has widened again, fostering expectations for increase in spot alumina market activity. SMM predicts the tight balance in the domestic alumina market may persist in the short term, with alumina prices mainly exhibiting stable fluctuations. However, it doesn't dismiss the possibility of alumina futures strengthening again, which could enhance the spot market's activity and support the spot price. We need to continuously monitor the production dynamics of alumina companies and the activity of spot trading.