Mysteel's daily price assessment showed that the national average price for smelter-grade alumina with a minimum purity of 98.6% dropped to 2,728 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 2,745/t, Yuan 2,715/t, and Yuan 2,745/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 0.08% by the end of Monday's daytime trading and decreased by 0.08% overnight, closing the nighttime session at Yuan 2,632/t as of 1 a.m. Tuesday, August 4, 2026.
Today, alumina futures and spot prices remained broadly rangebound, while spot tender transaction prices edged lower. On the supply side, the release of newly added capacity and the gradual ramp-up of restarted units have lifted market circulation, and cargo holders are generally holding pessimistic expectations.
On the other hand, the widening price spread between northern and southern regions has opened cross-regional arbitrage channels, causing local market prices to constrain one another.
Overall, the bearish supply-demand logic for alumina remains intact. The traders' inventories stay elevated, cargo holders keep lowering their offers, and spot prices are expected to remain on a weak footing in the near term.
