2026年上半年，国内外氧化铝将有1000万吨氧化铝产能投产，追多氧化铝需谨慎！

Group 1 - The core viewpoint of the article highlights the expected production timeline for alumina in 2026, with a total of 11.6 million tons projected to come online, primarily in the first half of the year [1] - Guangtou Beihai is set to produce 2.4 million tons of alumina, expected to start production between February and April 2026 [1] - Dongfang Hope Beihai will also produce 2.4 million tons, with production anticipated from April to June 2026 [1] - Other significant projects include Guangxi Nanning and Thai (2.4 million tons, April-May 2026), Xinjiang Tebian Fangchenggang (2.4 million tons, June-July 2026), and Chalco Shanxi New Materials (1 million tons, expected in May 2026) [1] - The second phase of Jinjiang Indonesia is expected to produce 1 million tons, with production starting between March and April 2026 [1] Group 2 - In 2025, overseas alumina production capacity is expected to increase by 3.8 million tons, with Indonesia contributing 5 million tons, including 2 million tons from Nanshan, 2 million tons from Jinjiang Phase I, and 1 million tons from Mampa Wa [1] - This increase contrasts sharply with the previous reduction in overseas alumina production capacity observed in 2024 [1] - Alcoa's alumina plant in Kwinana, Australia, will permanently cease operations due to high costs, impacting 1.2 million tons of capacity in 2025 [1]