From a supply perspective, the loose state is still in the development process. The static monthly surplus remains, and the market is waiting for the cumulative effect of scale production cuts. Trading is in a brief observation phase, with relatively increased buying interest at certain time points. As a result, the price decline has slowed, and support is gradually strengthening. In the medium to long term, the focus of alumina enterprises is no longer on sales prices but more on decisions related to production cuts and the bargaining of ore prices. In any case, the reduction in alumina operating capacity from its recent high points or potential future highs, or an increase in exports, will be necessary to curb the current market’s downward inertia.
