SMM Weekly Review: Alumina Supply and Demand Both Declined, Spot Alumina Prices May Fluctuate in the Short Term
Supply side, domestic alumina operating rate slightly decreased this week, mainly due to environmental protection policies in the North affecting the roasting process of some alumina refineries, as well as individual alumina refineries undergoing roasting furnace maintenance. Demand side, SMM learned that some aluminum smelters in Sichuan region have started to reduce production recently due to losses and maintenance needs, which is expected to affect 205,000 mt/year of aluminum capacity, slightly lowering downstream production demand for alumina. Overall, in the short term, the alumina fundamentals are unlikely to show significant surplus. Suppliers still maintain their sentiment to stand firm on quotes, but with high alumina prices, downstream buyers are extremely wary of high prices and cautious in spot purchases. In the short term, the market may enter a stage of back-and-forth negotiations between upstream and downstream, and spot alumina prices may remain stable with fluctuations.
![Aumentos de preços de setembro implementados; fluoreto de alumínio mantém forte tendência [Revisão Semanal de Sal de Flúor da SMM]](https://imgqn.smm.cn/usercenter/qKBjc20251217171650.jpg)
