On March 18, 2026, Chinalco's spot alumina prices rose across all regions, as detailed below:

Spot alumina quoted prices were 2,735 RMB/ton in the Shandong region, 2,785 RMB/ton in the Henan region, 2,780 RMB/ton in the Shanxi region, 2,820 RMB/ton in the Guizhou region, and 2,780 RMB/ton in the Guangxi region. These figures represent an increase of 20 RMB/ton, 20 RMB/ton, 25 RMB/ton, 10 RMB/ton, and 10 RMB/ton, respectively, compared to the previous trading day.

Analysis and Commentary

Alumina

Spot prices for alumina have generally risen across regions including Shandong, Henan, Shanxi, Guizhou, and Guangxi, with increases ranging from 10 to 25 yuan per ton. This trend indicates strong market demand or tight supply conditions, serving as a positive factor for spot prices.

Aluminum

The rising price of alumina—the primary raw material for aluminum production—will drive up aluminum production costs. This increase is likely to ripple through to the aluminum spot market, bolstering upward price momentum and acting as a positive catalyst for spot aluminum prices.

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