DAILY: China's spot alumina prices track higher, outlook turns volatile amid Middle East tensions

Chinese alumina prices largely tracked higher in the spot market on February 27, while alumina futures in Shanghai weakened further the same day. The domestic alumina market is expected to remain volatile in the near term amid rising market concerns following the U.S. and Israeli strikes on Iran over the weekend, which could affect China's alumina exports and disrupt alumina supply in the Middle East.

According to Mysteel's daily price assessment, the national average spot price for metallurgical-grade alumina with a minimum purity of 98.6% rose for the fourth consecutive working day, up Yuan 5/tonne ($0.7/t) from last Thursday to stand at Yuan 2,659/t including 13% VAT last Friday. The assessed regional prices for the same grade