Average Price of Last Week:CNY 19,807/MT
The spot price of alumina is obviously loosening, the rate of inventory liquidation is slowing down, the port inventory is increasing slightly, the supply is expected to loosen, the demand is relatively stable but there is no obvious increase, the fundamental positives have been digested in the early stage, and the forward incremental pressure limits the imagination space of alumina prices, and the trend is bearish. At present, the production cost of electrolytic aluminum has increased to about 21,000 yuan/ton, and some electrolytic aluminum plants are in a loss. The off-season and the rush to export in November have led to weak demand and dragged down prices. The social warehouse continues to be destocked at a low level, reflecting that the demand for winter reserve warehouses of enterprises still exists. The market is more receptive to the current aluminum price, and it is recommended to buy on dips.
