Alumina price rebound repair is not expected to have much room for price upside

In terms of alumina starts, it continues to decline slightly, but the amount of capacity recovery is expected to be relatively large, Shanxi Xinfa chemical maintenance and roasting line, and Xing'an chemical maintenance will be basically completed in recent days, Xinghua Technology 550,000 tons of transformation will also be basically completed in recent days, alumina production capacity will recover, especially the recent large-scale production reduction, so that the supply and demand situation of alumina has deteriorated again, and it may be difficult to improve
in a short period of time.
As of the end of this week, Luzheng Futures statistics showed that the domestic alumina operating capacity was about 69.
4 million tons, down 450,000 tons
from last week.

There has been little change in ore, but large movements have had an impact
on ore mining.
Some alumina enterprises in Xiaoyi area of Shanxi purchase 60% aluminum, and the ore with an aluminum-silicon ratio of 5.
0 grade is still at a high level of 470-500 yuan / ton, and the quality requirements of the ore are different
.
In addition to the Xiaoyi area, Yuanping and Jinjin contain 60% aluminum, and the ore with an aluminum-silicon ratio of 5.
0 grade is basically located in the range of 440-470 yuan / ton.

Domestic ore prices in Henan remained stable this week, with local aluminum content of 60%, and aluminum-silicon ratio of 5.
0 grade domestic ore basically located in the range of 380-450 yuan / ton naked price to the factory
.

At present, the price of alumina is in a loss repair rebound, the overall rebound is not expected, trade activity is low, circulation demand is less, coupled with the recent large-scale production reduction, so that this rebound space is suppressed, it is expected that the price rise space is not large, but in the middle and late stage with the recovery of electrolytic aluminum production capacity, the supply will be tight
.