DAILY: Chinese alumina prices ease further in spot, futures markets

The marginal decline in the national average reflected generally subdued trading activity and weaker quotations across China's five major alumina-producing regions, according to market sources.

In the Guangxi autonomous region and Guizhou province, spot prices for the same grade of alumina slipped by Yuan 10/t on day to Yuan 2,970/t and Yuan 2,990/t respectively, while prices in Shanxi, Shandong, and Henan provinces were unchanged from Monday at Yuan 2,795-2,865/t, according to Mysteel's assessments.  

In the spot market, alumina sellers in China's southwestern regions continued to show a willingness to trim offers amid oversupply, but those in the northern regions maintained a firmer pricing stance in anticipation of reduced alumina supply in local markets.

Mysteel Global noted that starting from November 4, several cities in Henan province, including Zhengzhou, Luoyang, Jiaozuo, and Jiyuan, activated responses to a severe air pollution alert issued by provincial authorities, which could constrain operations at industrial lines, including alumina production, in the short run.

With alumina output adjustments remaining uncertain, primary aluminum smelters were cautious about concluding deals on Tuesday, leading to muted trading in the spot market. Mysteel did not hear of any concluded deals yesterday.

Meanwhile, the domestic alumina futures market also weakened the same day. The most-traded January 2026 alumina contract on the Shanghai Futures Exchange (SHFE) fell by 0.54% during Tuesday's daytime session and slid another 0.4% to close the nighttime session at Yuan 2,764/t as of 1 a.m. Wednesday, the SHFE data showed.

Written by Iris Pang, pangjunyu@mysteel.com