SMM Morning Comment: Alumina Spot Prices Decline Slightly Amid Buyer-Seller Tug-of-War

게시됨: Mar 13, 2025 09:16
SMM Morning Comment on Alumina: Recently, the tug-of-war between buyers and sellers of alumina continues. The alumina spot market has seen sporadic spot transactions, with transaction prices experiencing a further slight decline, centering around 3,200-3,300 yuan/mt. The domestic alumina export window has closed, and the total registered warrant volume in alumina futures delivery warehouses has exceeded 200,000 mt. Subsequent alumina exports and transfers to delivery warehouses are unlikely to provide sustained demand. On the fundamentals side, in the short term, alumina operating capacity is expected to fluctuate with both increases and decreases, and no significant decline in total operating capacity is anticipated. The fundamentals of alumina remain in a slight surplus, and spot alumina prices are likely to fluctuate downward in the short term.

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