[SMM Early Morning Commentary on Alumina: Demand Remains Stable and Im

Published: Aug 8, 2024 10:42

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[SMM Early Morning Commentary on Alumina: Demand Remains Stable and Improving, Prices Hold Steady at High Levels] The upstream and downstream sectors of the domestic market are currently in a game of tug-of-war. Alumina plants, faced with limited spot supply, coupled with issues such as shortages of ore resources and rising caustic soda prices, have maintained firm quotations. Meanwhile, downstream aluminum smelters, due to the persistently high alumina prices, are largely focused on executing long-term contracts, with only minimal demand for replenishing inventories. Under the confrontation between bulls and bears, transactions in the spot market are sluggish, and prices remain stable at high levels. Overall, both supply and demand fundamentals have increased during this period, and the domestic alumina market is in overall balance. Alumina spot prices are primarily fluctuating at high levels, and close attention needs to be paid to the resumption progress of alumina enterprises and the stability of ore supply in the near future.

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