Northwest electrolytic aluminum plants are bidding for alumina, with winning bids translating to ex-factory prices significantly lower than online prices. This, coupled with high supply and inventory, is putting considerable pressure on the market. Therefore, domestic alumina prices are not expected to see a significant improvement in the short term, and prices are likely to continue to decline. A large-scale production cut to reduce supply might support prices and stop the decline, but given the strong negative factors, the potential for a price rebound is likely to be limited.
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