长江有色：26日氧化铝期价大涨5.6%创一个多月高位 今日全天交易量猛增

Group 1 - The core viewpoint of the news is that the alumina market is experiencing a strong upward trend in futures prices, while the spot prices are mostly declining across various regions in China [1][2]. Group 2 - On December 26, the main alumina futures contract (2605) closed at 2793 yuan, with a peak of 2830 yuan, marking a rise of 148 yuan or 5.60% [1]. - The trading volume for 117 contracts reached 1,967,715 lots, an increase of 1,426,547 lots or 263.61% compared to the previous trading day [1]. - The open interest rose by 26,416 lots to 644,879 lots, reflecting a growth of 4.27% [1]. Group 3 - Domestic spot prices for alumina mostly declined, with prices in South China ranging from 2740 to 2790 yuan per ton, down by 20 yuan from the previous day [1]. - In East China, the price was between 2660 and 2700 yuan per ton, also down by 10 yuan [1]. - The Southwest region reported prices between 2765 and 2805 yuan per ton, down by 10 yuan, while the Northwest region remained stable at 2920 to 2960 yuan per ton [1]. Group 4 - The macroeconomic environment for the metal market is improving, with a strong appreciation of the yuan and the central bank's continued implementation of a stable monetary policy, boosting consumer confidence in the metal market [1]. - The alumina market is facing a supply surplus due to high operating capacity and increasing industry inventory, which limits the upward price potential [2]. - The demand side shows a decrease in procurement willingness for spot alumina in Xinjiang due to improved shipment conditions for electrolytic aluminum and increased social inventory [2].