Asia
In the Asian region, Aluminium Oxide prices were seen to be weak and fluctuating in Q4’25. In this region, the Aluminium Oxide market was affected mainly due to the high bauxite supply coming from Guinea. The bauxite supply from Guinea was seen to be increasing, especially to China. This led to a situation where the refineries in China were running at full capacity to produce alumina. This, in turn, ensured that the raw material was supplied in ample quantities to the aluminium smelting industries.
In October, the Aluminium Oxide prices were weak, and this was mainly due to the comfortable bauxite supplies. In November, the Aluminium Oxide market was cautious, and despite the importance of freight and logistics, the focus shifted more to bauxite. In December, the Aluminium Oxide market saw a situation of oversupply. This was mainly due to the ramp-ups of the Indonesian refineries and the steady supplies from China. This led to a situation of downward pressure on the Aluminium Oxide prices, and a wait-and-see situation was observed.
Europe
Aluminium Oxide prices in the region of Europe continued to follow the global direction and faced pressure in Q4’25. There was some dependence on imported alumina and bauxite-based pricing. Exports of bauxite from Guinea were strong, ensuring the supply of the raw material to the global market. In October, the Aluminium Oxide prices were relatively flat, though they lacked support from the overall aluminium sector. In November, the Aluminium Oxide market was cautious, reflecting the rising global oversupply concerns. In December, the global Aluminium Oxide benchmarks softened, impacting the Aluminium Oxide prices. There was some cautiousness among the buyers, though the trading activity was moderate.
North America
In North America, Aluminium Oxide prices were in line with global supply conditions. Refinery operating balances were steady in October with normal aluminium production rates. However, as the quarter progressed, global surplus issues were a concern. Indonesian refining capacity was rising, and Chinese production was operating at high rates. This meant that export supply was also rising. Import parity and freight costs were carefully watched in November. By December, lower prices in the international market and comfortable supply were keeping the North American market in check. Demand from aluminium smelters was steady but not sufficient to consume the rising global supply.