Chinese Alumina Market Filled with Bearish Factors

SHANGHAI, Mar 14 (SMM) - The current alumina market is filled with bearish factors. Falling caustic soda prices will only temporarily improve alumina refineries' profits. Against the backdrop of oversupply and diminised cost support, supply shock caused by production resumption and new capacity (Tiandong Jinxin’s 1.2 million mt/year new project) will accelerate the decline in alumina prices across Guangxi, Guizhou and Chongqing. In the short term, alumina prices will remain in a downturn, unless new developments occur that reverse the current oversupply.