According to Reuters commentary, alumina prices soared to new highs, particularly on the Shanghai Futures Exchange (ShFE), with the alumina-to-aluminium price ratio climbing to ~25 % (from ~15 % at start of 2024), raising cost pressure for aluminium producers.
👉 Source: Reuters

Summary:

LONDON, Oct 17 (Reuters) – Alumina prices have soared to record highs this week, compressing margins at the world’s aluminium smelters which convert the intermediate product into metal.

The London Metal Exchange (LME) cash price , indexed to Platts benchmark Australian alumina assessment, closed Wednesday at $633.35 per metric ton, lifting the ratio to the aluminium price to almost 25%.

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https://www.reuters.com