张传合：电解铝、再生铝、铝加工业产业主动拥抱期货工具撬动新质生产力，迈向高端化

Core Insights - The aluminum industry in China is currently undergoing a critical transformation and upgrading phase, with a focus on high-quality development amidst challenges such as export tax policy adjustments and intensified internal competition [2] Group 1: Industry Development - The aluminum industry has shown strong resilience and vitality in 2024, despite facing economic slowdowns, cooling traditional consumption, and tight resource supply [1] - The dependency on imported bauxite has significantly increased to 68%, while the alumina sector has achieved record high profitability [1] - Electrolytic aluminum production has exceeded expectations, nearing the national production cap of 45 million tons [1] - The proportion of green electricity consumption in electrolytic aluminum has reached 25.2%, with plans to integrate into the national carbon market [1] Group 2: Role of Financial Instruments - The futures market plays an irreplaceable role in price discovery and risk management, with alumina futures providing effective price references and hedging tools for industry chain enterprises [2] - Financial instruments like futures and options are expected to enhance the industry's green and low-carbon transformation, as well as improve the resilience of supply chains [2] Group 3: Regional Development - Henan province is highlighted as a significant aluminum industrial base in China, with a complete industrial chain and advantages in deep processing [2] - The province is making strides in transferring electrolytic aluminum production capacity and achieving breakthroughs in recycled aluminum, high-end aluminum material research, and smart manufacturing [2] Group 4: Future Outlook - Despite challenges such as resource supply pressures and peak aluminum consumption, the industry has vast development potential, particularly in emerging fields like new energy vehicles, photovoltaics, and energy storage [3] - The industry is urged to focus on green, intelligent, and high-end development, ensuring resource security and promoting the integration of recycled aluminum with high-quality processing [3] - Emphasis is placed on risk prevention and the use of financial tools to manage market risks, alongside strengthening industry self-discipline to avoid vicious competition [3]