Core Viewpoint - The rapid construction of data centers in the United States is raising concerns about electricity supply shortages, which may impact various industries, particularly aluminum production [4]. Group 1: Electricity Supply and Demand - In 2024, the United States is projected to generate approximately 4.3 trillion kWh of electricity, which is about 42.5% of China's expected generation of 10.1 trillion kWh [5]. - The industrial sector accounts for 26% of the total electricity consumption in the U.S., with total electricity consumption expected to reach 4.1 trillion kWh in 2024 [5]. Group 2: Data Center Electricity Consumption - Data centers in the U.S. are expected to consume around 178 TWh of electricity in 2024, representing about 4% of the total electricity consumption, and this is projected to increase to 606 TWh by 2030, accounting for 12% of total consumption [6]. - The increase in electricity consumption by data centers is expected to account for approximately 41% of the total increase in electricity demand in the U.S. from 2024 to 2030 [10]. Group 3: Aluminum Production and Costs - The U.S. is projected to produce 670,000 tons of electrolytic aluminum in 2024, which is about 0.9% of global production and 1.6% of China's production [7]. - The electricity cost for producing electrolytic aluminum in the U.S. is approximately 1.9 times higher than in China, with U.S. industrial electricity prices averaging 9.06 cents/kWh compared to China's average of 0.386 yuan/kWh [8][9]. - The high electricity costs and supply constraints are likely to accelerate the exit of high-cost aluminum production capacity in the U.S. and delay the construction of new capacity [10].

Group 1: Aluminum Industry Insights - Citic Securities predicts a 5% growth in electrolytic aluminum demand in 2024, indicating strong resilience against the decline in real estate sector consumption [1] - Despite concerns over export competition and preemptive aluminum consumption in solar energy, the global electrolytic aluminum market remains balanced [1] - Low inventory levels and weak supply elasticity suggest that aluminum prices can withstand weak consumption cycles while being highly elastic during strong consumption periods [1] Group 2: Robotics Industry Developments - Huaxi Securities emphasizes that dexterous hands are crucial for the successful deployment of humanoid robots, with ongoing updates presenting significant technical challenges [2] - Manufacturers with the capability to design and produce dexterous hands are expected to gain substantial influence in the supply chain and achieve superior profitability [2] - The development of humanoid robots will create new market opportunities for component manufacturers, with a focus on key parts such as screws, reducers, motors, tendons, and tactile sensors [2]

Core Viewpoint - CITIC Construction Investment (601066) predicts a 5% growth in electrolytic aluminum demand for 2024, demonstrating strong momentum to overcome the decline in consumption from the real estate sector, thereby reversing market expectations with solid fundamentals [1] Industry Summary - The market is currently cautious due to concerns over export competition and preemptive aluminum consumption driven by photovoltaic installations [1] - Despite negative growth in photovoltaics and weakening exports, the global electrolytic aluminum market remains balanced throughout the year [1] - The aluminum price has the capacity to withstand weak consumption cycles due to low inventory levels and weak supply elasticity, while showing significant elasticity during strong consumption cycles [1] - The industry is recommended to embrace the electrolytic aluminum sector, characterized by weak supply and high profit potential [1]