Shanghai Alumina Futures Reach Record Levels Amid Supply Disruptions

Shanghai alumina futures soared to record highs on Friday, driven by ongoing global supply disruptions and strong Chinese demand, according to Bloomberg News. Alumina prices on the Shanghai Futures Exchange surged 6.4%, reaching 4,630 yuan per ton—the highest level since the contract's debut in June 2023.

The price spike was partly attributed to potential supply disruptions in Guinea, a major global supplier of bauxite, the raw material used to produce alumina. Analyst firm Mysteel Global reported that shipments from a mine in Guinea may have been disrupted, though specific details were not provided.

In addition to the rise in Shanghai, alumina prices for shipments from Western Australia also climbed, reaching $550 per ton—the highest level recorded since data tracking began in 2021. The combination of strong Chinese demand and persistent global supply challenges has continued to tighten the market, pushing alumina prices higher.