Domestic alumina spot prices are currently at a support level. Prices in both the north and south have fallen below the full cost line and are approaching the cash cost line, leading to increasing bullish sentiment in the market. However, pressure from fundamentals has not yet eased, resulting in a relatively stagnant spot price performance. In the long term, factors such as production cuts due to the alumina cost inversion, as well as disruptions from the Guinea rainy season and policy expectations at the ore end, need to be considered.
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