Alumina rally is over, high decline?

Gold ten futures on November 28th news, today's main alumina 2501 contract fell sharply from the high, the amplitude increased, as of the afternoon closing at 5160, down 2.2%. Overseas bauxite supply disturbance still exists, but Rio Tinto's alumina supply gradually recovered, domestic downstream electrolytic aluminum increment is also limited, the risk of production reduction under cost pressure has increased, overall, the fundamental support of alumina has weakened. At present, domestic and overseas alumina spot is still strong, no signs of turning around, the recent decline in the price is more driven by the capital and the subsequent change in supply and demand expectations, the short term continue to pay attention to the cash market trends, it is expected that the high basis will limit the downside of alumina prices.