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

게시됨: Mar 19, 2025 08:57
[SMM Morning Comment on Alumina: Significant YoY Increase in Imported Bauxite, Alumina Center Shifts Downward Again] Recently, the tug-of-war between alumina buyers and sellers continues, with sporadic spot transactions observed in the alumina spot market, and transaction prices have seen a further slight decline. The domestic alumina export window has closed, and the total registered warrants in alumina futures delivery warehouses have exceeded 280,000 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 increase and decrease simultaneously, with no significant decline in total operating capacity 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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