The spot market is experiencing small-scale premiums that are driving prices steadily upward, with high premiums remaining in transactions. Website quotes are gently rising based on transaction continuity. Snowfall is expected in the Northwest region, prompting aluminum plants to increase their subjective intentions to build inventories, aiming to enhance the safety stock of alumina. Although the inventory levels of large aluminum plants, which traditionally maintain high stock, have decreased compared to previous years, their safety stock is generally secure. The main issues are concentrated among small and medium-sized electrolytic aluminum enterprises that primarily rely on spot purchases, as well as some medium to large enterprises facing difficulties in executing previously established long-term contracts. These enterprises are primarily using website quotes to procure alumina for inventory replenishment, but the effectiveness of these efforts is currently limited.

Currently, in the Jin-Yu region, small-scale purchase orders are mostly quoted between 5250 and 5300 yuan, with sellers still holding a strong bargaining position. Recently, some alumina companies have started routine maintenance, which typically lasts about a week. Additionally, large alumina enterprises are sourcing spot supplies in the market, possibly to supplement shortfalls in downstream long-term contracts.

The spot market is experiencing tight liquidity, with a high demand for sourcing. The waiting period for periodic transactions continues to validate market prices.

The spot market has seen sporadic high premiums due to the downstream aluminum plants' urgent need to replenish their inventories, further guiding price discovery.

The spot market has relatively limited transactions due to tight supply and a noticeable decrease in spot circulation. As a result, the price discovery function through physical transactions is less effective than in the futures market. Currently, the limited suppliers in the north generally have intent quotations above 5,050 yuan per ton.

The spot supply remains tight, and the ability to discover prices independently is relatively limited. Under the influence of the relatively clear trend in the futures market, despite some fluctuations, a small amount of spot transactions continues to follow a high premium pattern. Spot quotations are based on weight and the continuity of transactions, leading to a relatively gradual increase. Currently, sporadic spot transaction prices tend toward 5000-5050 yuan/ton, while online spot quotes are trending toward 4900-4950 yuan/ton.