Group 1 - The core viewpoint of the articles indicates that the alumina market is experiencing a decline in prices due to oversupply and limited demand, but recent production adjustments by some companies may provide short-term support for prices [1][2][10] - As of November 14, 2025, the average spot price of alumina in China was 2832.95 CNY/ton, down 38.45 CNY/ton from October 31, reflecting a decline of 1.34% [1] - The operating capacity of alumina production in China is at 75.19%, with a slight decrease of 0.40 percentage points compared to the previous period, indicating some production adjustments [2] Group 2 - New alumina production capacity is expected to increase significantly in 2025, with a total built capacity of 11465 million tons and an additional 1380 million tons added during the year, primarily in Shandong, Guangxi, Hebei, and Gansu [4] - The alumina market is under pressure due to stable output from new capacities and the expectation of further capacity additions in 2026, which may exacerbate oversupply [6] - The demand for alumina remains stable, with 95% of alumina used for electrolytic aluminum production, but actual demand growth is limited due to constraints in electrolytic aluminum capacity [6] Group 3 - The price of bauxite, a key raw material for alumina production, has decreased significantly, leading to reduced production costs for companies, although profit margins are still under pressure due to falling alumina prices [7] - Recent macroeconomic factors, such as US-China tariff negotiations and interest rate cuts, have positively influenced aluminum prices, which in turn may support alumina prices [9] - Overall, while some alumina companies are facing slight losses and production adjustments are being made, the market remains oversupplied, and prices are expected to fluctuate around cost lines in the near term [10]
氧化铝：部分企业调缓生产节奏 短期市价支撑增强
Xin Lang Cai Jing·2025-11-19 10:59