Mysteel's daily price assessment showed that the national average price for smelter-grade alumina with a minimum purity of 98.6% dropped to 2,725 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 2,740/t, Yuan 2,710/t, and Yuan 2,740/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 edged up by 0.27% by the end of Tuesday's daytime trading and increased by 0.19% overnight, closing the nighttime session at Yuan 2,634/t as of 1 a.m. Wednesday, August 5, 2026.
Recently, only some alumina refineries in the southern region have conducted routine maintenance, while production in the north has remained relatively stable. The pressure of ample regional supply is gradually becoming apparent, with some producers and traders showing greater willingness to sell. Meanwhile, most aluminum smelters continue to hold high inventories and are maintaining a wait-and-see approach, procuring only on dips in the short term.
Additionally, although elevated ore prices provide some cost support, given that the supply growth trend remains unchanged, spot prices are expected to remain under downward pressure.
