Rio Tinto encountered shipping problems at its Australian alumina plant, and alumina strongly hit the daily limit!

Gold Ten Futures, May 21, the main contract of alumina rose by the limit, and the main contract of Shanghai aluminium rose by more than 2%. On the news, Rio Tinto Group announced force majeure factors for the shipment of alumina from the two smelters of Australia's Yarwun Smelter and Queensland Alumina Co., Ltd., saying that there is a shortage of natural gas inventory/supply for power generation. For the market outlook, South China Futures said that the financial impact is greater than the fundamentals. Under the background of high macro sentiment, it is expected to fluctuate in the short term. Since the second quarter, the core and underlying reason for the price increase is that the domestic mine-end problem has not been resolved, and the tightening of spot is a derivative phenomenon of the mine-end problem. The tension of fundamentals is believed to be close to the limit, but the reality of tight mines always provides a basis for prices to rebound, and macro sentiment will amplify the Short-term recommendations focus on changes at the mine end, as well as the increase in warehouse receipts and available storage capacity. In addition, Monday's news that Rio Tinto encountered shipping problems at the Australian alumina plant may further stimulate prices.