DAILY: China's spot alumina strengthens further, futures rebound

China's spot alumina prices extended their upward momentum on March 2. The same day, Shanghai alumina futures rebounded alongside broad futures gains across several energy and metal commodities, with support from supply concerns over escalating tensions in the Middle East.

Mysteel assessed the national average spot price for smelter-grade alumina with a minimum purity of 98.6% at Yuan 2,665/tonne ($387.1/t) including 13% VAT on Monday, up Yuan 6/t from last Friday. Regionally, prices continued to strengthen across three of China's five key alumina-producing bases. In Shandong, Henan and Shanxi provinces, assessed prices for the