Entities at both ends of the industry are more susceptible to benchmarking pressure due to fixed-price transactions, leading to more conservative operations. They often sign incremental spot contracts at a discount to the website price. Currently, the main driver of spot market pricing is concentrated in the trading sector, and its impact on market sentiment is currently low.
The price gap between the north and south has widened to approximately 150 yuan/ton. Coupled with significant supply pressure in the northern market and a certain demand gap in the southern market, the gradual resumption of “north-south cargo transportation” is expected to alleviate some pressure on alumina companies. According to market feedback, the north-south cargo transportation volume is expected to be between 60,000 and 90,000 tons this month.
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