Currently, the main market participants are engaged in two types of trading operations. One approach is to influence the real-time spot price of alumina by aggressively dumping alumina with 10-20 days delivery periods at a fixed price, thus reducing procurement cost risks. The other approach is based on a strong expectation of price decline in April, where participants lock in spot sales by using the average March price with a slight discount, and then sign forward procurement agreements with a small discount based on the April settlement price. Overall, the market generally expects a downward trend for alumina over the next 40 days, with the top pressure on alumina prices remaining.
