【SMM Alumina Morning Review: On Tuesday, domestic alumina prices continued to remain stable, with a subdued market. According to SMM research, a certain alumina plant in Guangxi reduced its monthly output by about 20,000 tons in January due to insufficient ore supply and production line maintenance. The utilization rate of alumina capacity in the southern region continues to decrease, and regional supply pressure is constantly rising, with alumina plants in the southwestern region offering firm prices. As some aluminum smelters resume production after the holiday season, downstream wait-and-see sentiment is growing, but some small aluminum smelters may still have limited demand for inventory planning before the holidays. In addition, recent tightness in ore supply and ongoing issues with energy supply such as natural gas continue to affect the operation of alumina companies, with no significant changes in alumina demand. SMM expects the short-term tight supply situation in the spot market to provide some support to domestic spot prices before the holidays. It is necessary to continue monitoring the impact of heavy snowfall in the northern region on production and shipment of goods for enterprises, as well as the recent situation of imported alumina arrivals.】
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