Stable alumina production has led to continued oversupply, which in turn is putting downward pressure on prices. Spot market transactions remain primarily driven by tenders. The expected cost reductions resulting from lower bauxite prices in Guinea may impact the existing cost support in the medium to long term. Meanwhile, production cuts due to losses and the commissioning of planned new capacity are also key factors to watch in the medium to long term. In the short term, spot prices are expected to continue to decline slightly.
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