The transaction pace of the spot market for alumina in China has slowed down, and the “fixed price” transactions are relatively few, which has led to a relatively stable performance in terms of price. Although there is a price difference between overseas alumina and domestic alumina in the short term, due to the transportation cycle of overseas alumina to China, there is no speculative import of alumina flowing into China in the short term. The short-term slight rebound in Guinea’s ore prices may lead to an expected increase in the production cost of alumina. The supply situation of Guinea’s ore in the later period still needs to be closely monitored.