With the alumina industry’s theoretical profitability recovering, market utilization rates steadily increasing, and new production capacity gradually being released, the current market supply is transitioning to a relatively loose structure. However, low alumina inventories and the impact of bauxite supply disruptions in Guinea are supporting medium- and long-term costs. Furthermore, short-term production fluctuations at domestic mines are introducing new uncertainties on the supply side. A combination of bullish and bearish factors is putting pressure on the alumina spot market.
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