SMM

[SMM Weekly Review on Alumina: Alumina Prices Stabilized This Week as Export Window Opened, Potential Increase in Alumina Exports Expected] In northern regions, reports of minor alumina production cuts and maintenance have emerged successively. Coupled with a surge in domestic alumina export news, this has boosted alumina prices and improved market sentiment. This week, spot alumina prices stabilized after halting their decline. However, operating capacity for alumina remains at a high level, while the incremental demand for aluminum is limited, leaving the fundamental market structure unchanged. Resistance at the upper end of alumina prices persists. In the short term, alumina prices may enter a phase of fluctuation and adjustment. Moving forward, continuous attention should be paid to the status of the alumina export window and changes in operating capacity for alumina.