Core Viewpoint - Indonesia has become a hotspot for global aluminum industry development due to its abundant bauxite resources, although energy prices do not show significant advantages [1] Industry Analysis - The cost advantage of local bauxite ore is notable, while the return on investment for electrolytic aluminum is limited [1] - The return advantage for alumina should not be overlooked, with a projected annual capacity increase of 320,000 tons for alumina and 56,000 tons for electrolytic aluminum from 2025 to 2030 [1] - The commissioning of Indonesian projects will not alter the downward trend in the growth rate of electrolytic aluminum supply but will change the global alumina cost curve [1] - There are optimistic investment opportunities in the electrolytic aluminum industry [1]