Jin Rong Jie·2025-12-30 03:45Core Viewpoint - China Aluminum (02600) saw a price increase of over 3%, closing at HKD 12, with a trading volume of HKD 186 million, following a recent article from the National Development and Reform Commission emphasizing the optimization of traditional industries, particularly in alumina and copper smelting [1] Industry Summary - The article from the National Development and Reform Commission highlights the importance of strong resource-constrained industries, such as alumina and copper smelting, in the national economy and defense sectors [1] - Morgan Stanley's report indicates that the article calls for enhanced management and optimized layout for the alumina and copper smelting industries, encouraging large backbone enterprises in these sectors to pursue mergers and acquisitions [1] - The new policy is expected to limit the planning of new alumina production capacity, with anticipated capacity consolidation benefiting industry leaders [1]