Bearish Sentiment Dominated Alumina Market amid Continuous Release of New Capacity

The "aluminum electrolysis energy-saving and carbon reduction technology based on reducing perfluorocarbon emissions," led by Chalco Zhengzhou Research Institute, has achieved a major breakthrough. This technology addresses at the source the industry-wide challenge of high perfluorocarbon emission intensity in China's large aluminum reduction cells when using domestically produced alumina, reducing the perfluorocarbon equivalent CO2 emission intensity of aluminum electrolysis in China from 1.12 mt/mt aluminum to below 0.26 mt/mt aluminum, a reduction of over 77%, marking a critical step forward in China's green transformation and deep carbon reduction in the aluminum industry. Currently, the technology has been promoted and applied in more than 20 aluminum enterprises nationwide, covering a capacity of over 6 million mt. Actual application data show that the technology delivers significant environmental and economic benefits: average DC power consumption per mt of aluminum has been reduced by more than 47 kWh, with cumulative electricity savings of 1.133 billion kWh since 2022, CO2 emission reductions of 18.71 million mt, and new economic benefits of 1.146 billion yuan.

[SMM Aluminum Alloy Daily Review] Spot ADC12 offers moved up overall today, with the SMM ADC12 market quote rising by 100 yuan/mt WoW. The rebound in futures and primary aluminum prices helped repair market sentiment, and with raw material cost support strengthening further, the market broadly raised offers by 100 yuan/mt, lifting the price center. Further upside will still depend on aluminum price trends and actual downstream purchases. On the import side, overseas ADC12 offers pulled back slightly to $3,040–3,120/mt. Driven by firmer domestic ADC12 prices and RMB appreciation, import break-even improved and rebounded above the break-even line, with the theoretical import window now open. Going forward, attention should be paid to the impact of overseas offers and exchange rate changes on

[ADC12 price daily review: import profit margin improves, theoretical import window for aluminum alloy opens] Ex-China ADC12 offers have pulled back slightly to $3,040–3,120/mt. Supported by stronger domestic ADC12 prices and yuan appreciation, the real-time import profit margin has improved and rebounded above the break-even line. The theoretical import window has opened, and future attention should be paid to the impact of changes in ex-China offers and the exchange rate on the inflow of imported supply.