China is the world's largest producer of aluminum, with very few exports of alumina. This situation changed in April, when US sanctions against Russian aluminum and the disruption of production by Norsk Hydro at the Alunorte plant in Brazil exacerbated the global supply shortage of alumina. International alumina prices have risen 37% so far this year to approach $560 per tonne, making China's exports profitable, although spot alumina prices in eastern China's smelting centers have risen 20% since the end of June, reaching 3,300 yuan per tonne. In a favorable price arbitrage environment, a contract for exporting more than 140,000 tons of alumina from China was signed in July. According to Chinese customs data, this is almost three times the amount of exports last year.Supply and demand at home and abroad. Whether it is domestic supply or demand or foreign supply and demand, alumina is tight supply. Due to the tight supply of bauxite in Shanxi, some elastic production occurred in Shanxi Henan. According to SMM data, the alumina output in July was 5.9 million tons, and the output of electrolytic aluminum was 3.12 million tons. According to the alumina consumption of 1.95 tons, the domestic alumina supply monthly. The shortage is about 200,000 tons. The biggest foreign influence is Hydro's production cut. It is understood that the overseas alumina gap is 200,000 tons in one quarter, and it is expected that the possibility of the resumption of Hydro production is very small before the political election in Brazil in October.