The current alumina market is characterized by a stalemate in spot trading, while the trading sector has shifted to a wait-and-see stance due to the settlement window period. Although seller sentiment has shown slight signs of recovery, downstream consumers continue to purchase strictly on an as-needed basis, resulting in sluggish transaction volumes. Aluminum smelters in the northern region hold ample inventories, and supply is in a process of steady expansion; conversely, some smelters in the southern region are experiencing localized tightness in alumina deliveries, with supply exhibiting distinct characteristics of temporary scarcity caused by unforeseen incidents. However, as production facilities at the affected plants undergo partial repairs, supply is expected to recover from its recent lows.
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