Core Viewpoint - Nanshan Aluminum International (02610) experienced a significant decline in stock price, dropping over 6% in early trading, attributed to falling overseas alumina prices in Q3 2025 [1] Company Summary - Nanshan Aluminum International is a subsidiary of A-share listed Nanshan Aluminum, primarily engaged in alumina projects in Indonesia [1] - As of August, the company has established an alumina production capacity of 3 million tons per year, with the second phase of a new 1 million tons per year project progressing faster than expected [1] - The company anticipates that the new production capacity will be operational by Q4 2025 or Q1 2026, positioning it as the largest alumina producer in Southeast Asia [1] Industry Summary - The overall trend for overseas alumina prices in Q3 2025 is a decline, with the average market price around $357, representing a decrease of approximately 29% compared to the same period last year [1] - The price fluctuations are influenced by weakened cost transmission from upstream bauxite and the introduction of new alumina production capacities in September [1]