Alumina 2605 Futures Close Lower Amid Tug-of-War, Short-Term Outlook Bearish

Published: Mar 27, 2026 09:14

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Futures: Overnight, the most-traded alumina 2605 futures contract opened at 2,940 yuan/mt in the night session, hit a high of 2,947 yuan/mt and a low of 2,904 yuan/mt, and finally closed at 2,917 yuan/mt, down 22 yuan/mt from the previous day; open interest increased by 1,414 lots to 224,400 lots, with bulls and bears still locked in a tug-of-war. Technically, the closing price was below MA5 (2,983.60) and MA10 (3,007.20), indicating some overhead resistance to further gains, but remained above MA30 (2,892.70), providing some support at the bottom. Meanwhile, the MACD indicator showed DEA (50.64) crossing above DIF (43.42), forming a low-level death cross, with the histogram at -14.44. Alumina futures are expected to remain in the doldrums in the short term, and continued attention should be paid to geopolitical developments, the commissioning plan for new capacity, and inventory changes.

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