SMM Aluminum Oxide Morning Review: Xinjiang Delivery Warehouse adds 50,000 tons of capacity, spot trading activity expected to increase. The main aluminum oxide price hit a new high since its listing at 3838 yuan per ton yesterday, but later fell back to below 3550 yuan per ton. According to SMM research on Wednesday, a certain aluminum oxide factory in Henan province restored its previous reduction in calcination capacity due to the lifting of local heavy pollution weather warnings. Some aluminum oxide factories in Sanmenxia region also restored some of their reduced production capacity due to smooth mining progress. The production capacity in Henan province has increased slightly but still remains low. In the spot market, aluminum oxide companies are reluctant to sell, with firm quotations and sporadic premium transactions. On Wednesday, SMM's aluminum oxide price index recorded 3210 yuan per ton, up 56 yuan per ton from the previous trading day, an increase of 1.78%. SMM expects that under the current supply and demand situation, the short-term domestic spot prices may fluctuate at high levels.
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