长江有色：5日氧化铝期价跌0.78% 今日刚需采购意愿持续降低

Group 1 - The core viewpoint of the articles indicates a collective decline in alumina futures contracts, with the main contract for February 2605 closing at 2790 yuan, down 22 yuan or 0.78% [1] - The total trading volume for the day reached 476,903 lots, an increase of 25,240 lots or 5.59% compared to the previous trading day, while the open interest decreased by 20,386 lots, a decline of 3.83% [1] - Domestic spot prices for alumina remained stable across various regions, with prices in South China reported between 2680-2730 yuan per ton, East China between 2600-2640 yuan, Southwest between 2715-2755 yuan, and Northwest between 2870-2910 yuan, all unchanged from the previous day [1] Group 2 - On the fundamental side, two alumina plants in Guangxi that were undergoing maintenance are scheduled to resume production on the 7th and 9th, respectively, with more companies expected to take holidays for maintenance as the Spring Festival approaches [2] - The inventory data from the Shanghai Futures Exchange shows that alumina futures warehouse receipts reached 196,344 tons, an increase of 6,944 tons, while factory warehouse receipts remained at 0 tons, limiting the rebound potential of alumina futures prices [2] - Overall, the trading activity in the market is expected to remain low ahead of the Spring Festival, compounded by ongoing oversupply pressures and expectations of new production capacity coming online in March, which will likely keep alumina prices under pressure [2]