In the spot market, the tight liquidity of short-term spot supply continues to support high prices. In the medium to long term, changes such as the gradual commissioning of new alumina projects in Guangxi, strong expectations of increased alumina imports from overseas, accelerated construction of the second phase of the Jiatang 1 million-ton roasting project, and the gradual decline in alumina costs will all put pressure on domestic supply. The expectation of a near-term strong and long-term weak alumina market remains.
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