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 0.81% by the end of Tuesday's daytime trading but increased by 0.07% overnight, closing the nighttime session at Yuan 2,683/t as of 1 a.m. Wednesday, July 29, 2026.
As market supply continues to be released, spot and futures prices are under further downward pressure, with tradable spot supply gradually becoming more abundant.
Given the current price spread between northern and southern regions, cross-regional shipments have increased, leading to stronger price linkage and mutual constraints across regions. In the near term, the north-south price spread is likely to narrow.
Based on current spot trading activity and holders' quoting behavior, spot prices in the northern region are still expected to have some room for further correction.
