Yuefeng Aluminum Technology statistics show that in February 2026, the average complete cost including tax in the Chinese alumina industry was 2,697.10 yuan per ton, a decrease of 51.3 yuan per ton compared to 2,748.4 yuan per ton in January. This represents a month-on-month decrease of 1.87% and a year-on-year decrease of 18.02%.
The prices of raw materials and auxiliary materials for alumina declined mainly in February. In terms of raw materials, due to the fact that the situation of cost imbalance in inland alumina enterprises has not yet been reversed, enterprises once again lowered the purchase prices of raw materials, which led to the continued downward trend of the average price of domestic raw materials; in terms of imported raw materials, Guinea has steadily delivered new production capacity, and there is an expectation of an increase in supply. Although Australia was affected by the rainy season and its supply level decreased, the increase in supply from Guinea could still cover this gap. Overall, the supply of imported raw materials remained excessive. This month, the spot prices of imported raw materials for alumina in China continued to decline; in terms of caustic soda, due to the reduced receipt of downstream enterprises, the inventory slightly accumulated, and the quotations of enterprises slightly dropped; in terms of thermal coal, due to the impact of the Spring Festival holiday, the trading atmosphere in the thermal coal market was not active, and the overall price of thermal coal was stable with a slight decline. In summary, the production cost of alumina showed a downward trend in February.
