Output has steadily recovered: With the recent release of production capacity and the increase in production, and the reduction of recent environmental protection and other disturbances, domestic alumina production has steadily recovered.
Inventory has recovered slightly: The operating capacity of downstream electrolytic aluminum is generally stable. Although the inventory of raw materials is generally not high, the willingness of aluminum plants to replenish inventory is low. Alumina consumption is generally stable, and overall inventory has stabilized and recovered slightly.
Supply tends to be loose: Coupled with strong expectations for the release of new production capacity in the later period, the panic selling of holders has aggravated the decline in spot prices. Although futures prices are still at a large discount, the downward pressure of shocks increases as the spot price accelerates its decline. In terms of operation, it is recommended to short on the rebound....
