Futures prices have surged significantly, prompting financial traders to actively inquire about goods and engage in arbitrage. Meanwhile, there has been a frequent influx of purchasing from essential buyers, leading to increased demand in the spot market. Suppliers in the spot market are reluctant to sell, contributing to a strong sentiment of withholding. It is expected that spot prices will primarily rise to catch up, while the futures market will remain in a state of high-level fluctuations.

Futures prices have surged significantly, prompting financial traders to actively inquire about goods and engage in arbitrage. Meanwhile, there has been a frequent influx of purchasing from essential buyers, leading to increased demand in the spot market. Suppliers in the spot market are reluctant to sell, contributing to a strong sentiment of withholding. It is expected that spot prices will primarily rise to catch up, while the futures market will remain in a state of high-level fluctuations.

Based on the current market conditions for alumina, multiple favorable factors are supporting the spot price, and the alumina price is expected to maintain a strong upward trend in the short term.

The futures market has initially reached and broken through the resistance level of 4,500 yuan, which aligns closely with the intended sales prices of major aluminum oxide production enterprises in northern China. Under the circumstances of tight spot supply and a significant increase in liquidity, sellers are eager to sell at higher premiums, leading to sporadic but relatively frequent spot transactions that continuously drive up prices.

From the perspective of website pricing, sporadic yet relatively frequent spot transactions continually drive price discovery. Although occasional spot transactions may not lead to an immediate adjustment in the day's quotes, the consistent trend and the continuous emergence of subsequent transactions will ultimately drive the average price of quotes to follow suit in due time. It is expected that spot transactions in the northern market will surpass 4,400 yuan per ton; it's merely a matter of time.

Overall, there are signs of increases in supply, demand, inventory, and exports before the end of the year, while the shortage situation remains. From a trading perspective, the influence of alumina producers and industrial traders on prices remains high. In the short term, the spot price of alumina is expected to quickly surge to the range of 4,350-4,400 yuan/ton.