[SMM alumina morning review: holders are reluctant to sell, road transport capacity is tight, transactions turn light]

Driven by macroeconomic sentiment and the British and American sanctions on Russian metal products, the alumina futures price surged on Monday, opening an arbitrage window between futures and spot prices. In the short term, market demand for delivery goods was somewhat boosted, leading to an increase in the price of northern spot alumina. However, in the latter half of the week, holders of delivery goods were reluctant to sell, and the tight capacity of Xinjiang delivery warehouses was compounded by tight road transport capacity in the region, making it difficult to find vehicles for transportation. Traders were cautious in accepting goods, leading to light trading volume. On the other hand, there are expectations of some alumina plants in Shanxi province resuming production, which has drawn attention to short-term supply-side performance.