Zhi Tong Cai Jing·2025-12-30 10:59Core Viewpoint - China Aluminum (02600) experienced a significant intraday increase of over 3%, closing up 3.63% at HKD 12, with a trading volume of HKD 186 million [1] Group 1: Industry Insights - The National Development and Reform Commission (NDRC) recently published an article emphasizing the need to enhance management and optimize layout for resource-intensive industries such as alumina and copper smelting [1] - Resource-intensive industries are considered foundational to the national economy, playing a crucial role in various sectors including economic and national defense construction [1] - Morgan Stanley's research report highlighted the NDRC's call for stronger management and optimization in the alumina and copper smelting sectors, encouraging major enterprises in these industries to pursue mergers and acquisitions [1] Group 2: Policy Implications - The new policy is expected to limit the planning of new alumina production capacity, which may lead to capacity consolidation benefiting industry leaders [1]