SMM alumina morning news: March production restart expectations strengthen, market discounts increase transaction willingness. The progress of alumina production restart in the Jin-Yu region is still slow, and some alumina plants in the southwest region have delayed their production plans. Alumina enterprises are reluctant to sell, spot prices remain strong, and upstream and downstream enterprises focus on ensuring long-term supply contracts. Transactions between plants are relatively light, but with the recent strengthening of market expectations for alumina production restart in March, some traders have shown willingness to trade at a discount. Overall, the tight balance between north and south alumina continues, and SMM expects short-term domestic spot prices to fluctuate mainly until there are further production restart plans in the Jin-Yu region. It is also important to continue monitoring the recent production restart expectations and recent imports of alumina in the Jin-Yu region. In terms of futures, considering the lower-than-expected production restart of alumina enterprises after the holiday, the fundamentally skewed supply in the spot market provides some support to the market. Before any significant changes in the fundamentals, short-term fluctuations are expected to be the main trend.
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