Mysteel's daily price assessment showed that the national average price for smelter-grade alumina with a minimum purity of 98.6% dropped to 2,731 Yuan/tonne, down 3 Yuan/tonne compared to the previous day.
The downward price trend can be attributed to the offering prices in three of China's five key alumina production regions. In Shanxi, Shandong, Henan and assessed prices for the same grade of alumina both declined by Yuan 5/t from the prior day, to Yuan 2,750/t, Yuan 2,720/t, and Yuan 2,750/t, respectively.
In contrast, prices in Guangxi and Guizhou stayed steady at Yuan 2,660/t and Yuan 2,775/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 1.02% by the end of Friday's daytime trading but increased by 0.04% overnight, closing the nighttime session at Yuan 2,636/t as of 1 a.m. Monday, August 3, 2026.
Recently, cross-regional cargo flows have increased significantly across the industry, intensifying market shipment pressure and driving spot prices lower by a small margin.
Additionally, as some newly commissioned and restarted alumina capacity in southern China gradually stabilizes, regional supply capability has improved, and inventory pressure at certain plants has also risen. Meanwhile, pessimistic sentiment among some traders toward the market outlook persists, sustaining their willingness to sell at discounts.
In the near term, no signs of large-scale production cuts or maintenance have emerged in either northern or southern regions. With the weak fundamental picture unlikely to improve materially, spot prices are expected to remain soft, with the mainstream trading range forecast at Yuan 2,600–2,750 /tonne.
