Shouchuang Futures: Large alumina plants suspend production for maintenance, alumina rebounds and rises

Recently, due to the continuous commissioning of new alumina production capacity, alumina prices briefly dipped to around 2,600 yuan, with the main contract significantly shifting to the 2,609 contract. Yesterday, it was reported that a large alumina plant in Guangxi has a capacity of 4 million tons, but due to boiler failures, the entire boiler system was shut down for maintenance, easing short-term supply pressure on alumina. As a result, alumina experienced a sharp rebound, rising above 2,800 yuan, up over 2%. Today, alumina remained volatile, with upward momentum weakening, not only because the status of maintenance at shutdown plants remains uncertain but also because new capacities are still coming online. The oversupply situation in alumina remains unchanged, and the overall bearish outlook on alumina persists. However, attention should be paid to future updates on Guinea policies. (First Capital Futures)