From July 6-10, 2026, domestic spot alumina prices gradually stabilised with narrow fluctuations. As of July 10, the weighted national average spot price for smelter-grade alumina with a minimum purity of 98.6 per cent stood at RMB 2,762 per tonne, down RMB 14 per tonne from a week earlier, according to Mysteel’s price assessment.{alcircleadd}
Alumina prices softened further over the week, weighed down by a retreat in futures prices, rising supply from new and restarted capacity in the south, and increased south-to-north shipments. While Typhoon Maysak briefly affected logistics in Guangxi, operations have largely resumed. The traders’ inventories continued to build, and buyer sentiment remained cautious.
In detail, alumina futures prices at Shanghai Futures Exchange (SHFE) pulled back steadily through the week, prompting futures-spot traders to ramp up shipment and accept modest discounts. Spot transaction prices followed suit. Early last week, traders’ offers softened as futures price declined, though traders remained relatively firm on quotes given still-tight spot liquidity. By mid-week, the pullback in futures accelerated, and futures-spot traders became more active in releasing cargoes, with some low-priced warehouse receipts gradually absorbed. Towards the end of the week, spot prices continued to ease, though the pace of decline moderated as holders showed signs of stabilizing offers.