Alumina Prices To Remain Under Downward Pressure Amid Persistent Oversupply

SHANGHAI, Apr 10 (SMM) – The domestic alumina market was oversupplied by 249,000 mt in the first quarter, weighing on alumina prices and triggering strong bearing sentiment. Alumina refineries with high inventories tried to dump their cargoes at lower prices, while traders refrained from buying and aluminium smelters pushed for even lower prices. In the short term, alumina prices will hover sideways, with downside risk.