Mysteel's daily price assessment showed that the national average price for smelter-grade alumina with a minimum purity of 98.6% stood at 2,744 Yuan/tonne, remaining stable compared to the previous day.
The steady price trend can be attributed to the offering prices in China's five key alumina production regions. In Shanxi, Shandong and Henan assessed prices for the same grade of alumina both kept stable from the prior day, to Yuan 2,770/t, Yuan 2,735/t and Yuan 2,765/t, respectively.
Additionally, prices in Guangxi and Guizhou stayed steady at Yuan 2,670/t and Yuan 2,780/t respectively.
In the derivatives market, alumina futures on the Shanghai Futures Exchange showed slight volatility. The most-traded alumina contract for September delivery dropped by 0.44% by the end of Monday's daytime trading and decreased by 0.7% overnight, closing the nighttime session at Yuan 2,686/t as of 1 a.m. Tuesday, July 28, 2026.
Although overseas markets have recently shown a pattern of rising volumes and prices, domestic spot alumina prices lack strong rebound momentum, with spot trading activity remaining subdued. Mounting supply and high inventory pressures continue to cap upside potential.
Meanwhile, downstream aluminum smelters mainly fulfill long-term contracts, purchasing spot cargoes on an as-needed basis while maintaining a price-negotiating stance, leaving buyers and sellers locked in ongoing tug-of-war.
Domestic spot alumina prices are expected to remain narrowly range-bound with a slight downside bias in the near term, with the trading range still seen at Yuan 2,600-2,750/tonne.
