According to the calculation of Yuefeng Aluminum, the weighted average complete cost of domestic alumina (including tax) in August 2025 was 2,889 yuan per ton, a decrease of 3 yuan per ton compared with the previous month and an increase of 6 yuan per ton compared with the same period last year. During the same period, the spot price of alumina shifted upward to 3,263 yuan per ton, rising by 68 yuan or 2.1% compared with the previous period. The average profit of the alumina industry in August was 374 yuan per ton, the highest since February this year. In August, the domestic alumina production capacity in operation was 94.6 million tons per year, with an operation rate of 83.1%, up 0.6 percentage points from the previous month. From the perspective of raw material prices, in August, the prices of the three major raw materials in the production cost of alumina fluctuated. The price of bauxite slightly declined, the price of caustic soda remained basically stable, and the energy price rose slightly, resulting in a slight decrease in the production cost of alumina.
In August, the price of domestic bauxite remained basically stable, but the price of imported bauxite slightly declined. The cost of bauxite for alumina production dropped by 32 yuan per ton.
Alkali: This month, the overall supply of liquid caustic soda in the market is sufficient, and the downstream demand has increased. The price trend of liquid caustic soda remains stable, and the cost of producing caustic soda from alumina is the same as last month.
In August, the price of thermal coal continued to rise. Multiple factors such as high temperatures and inventory decline jointly pushed up coal prices, increasing the energy cost for alumina production by 28 yuan per ton.
