Mysteel's daily price assessment showed that the national average price for smelter-grade alumina with a minimum purity of 98.6% dropped to 2,744 Yuan/tonne, down 4 Yuan/tonne compared to the previous day.
The downward price trend can be attributed to the offering prices in four of China's five key alumina production regions. In Shanxi, Shandong, Henan and Guangxi assessed prices for the same grade of alumina both declined by Yuan 5/t from the prior day, to Yuan 2,770/t, Yuan 2,735/t, Yuan 2,765/t and Yuan 2,670/t, respectively.
In contrast, prices in Guizhou stayed steady at Yuan 2,780/t.
In the derivatives market, alumina futures on the Shanghai Futures Exchange showed slight volatility. The most-traded alumina contract for September delivery dropped by 0.7% by the end of Thursday's daytime trading and decreased by 0.33% overnight, closing the nighttime session at Yuan 2,691/t as of 1 a.m. Friday, July 24, 2026.
Weekly China alumina traders' inventory stood at 6.37 million tonnes, up 18,000 tonnes week-on-week. With the easing of recent severe convective weather, logistics efficiency improved markedly in several regions, alleviating pressure from in-transit inventories.
Meanwhile, as a few alumina producers gradually resumed production, plant inventories rose noticeably, while port stocks also continued their modest upward trend.
Domestically, output from newly commissioned capacity has largely stabilized. Additionally, following maintenance shutdowns, some producers in both northern and southern China have restarted operations, reinforcing near-term supply growth expectations.
Coupled with the sustained slight buildup in market inventories, sentiment has weakened, leading to cautious, wait-and-see positioning. Spot alumina prices in China are expected to remain stable with a soft bias in the short term, likely ranging between Yuan 2,600-2,750/tonne.
