Nanshan Aluminium International Holdings has reported that overseas alumina prices averaged around USD 321 per tonne in the first nine months of 2026, approximately 22% lower than in the same period of 2025.
The update was based on the unaudited nine-month results of the company’s controlling shareholder, Shandong Nanshan Aluminium Co., Ltd., for the period ended September 30, 2026. The parent company’s figures were prepared under Chinese accounting standards and may not be directly comparable with Nanshan Aluminium International’s financial statements under Hong Kong Financial Reporting Standards, the company said.
Third-quarter recovery
Overseas alumina prices stayed low through the first half of 2026 before recovering in the third quarter. Nanshan attributed the improvement to the commissioning of overseas electrolytic aluminium smelters, which raised expected demand, and to production constraints at some alumina refineries.
Even with that rebound, the January–September average remained at about USD 321 per tonne. The company said the figures point to competing forces in the market: additional demand from aluminium smelting capacity and tighter supply from certain refineries.
Nanshan advised shareholders and potential investors to exercise caution when trading its shares and not to place undue reliance on the unaudited information. It said the overseas alumina price trend remains an important indicator for the aluminium value chain as smelting demand and refinery supply continue to shape the market.