[Alumina Spot and Futures Prices Surge During the Week; Focus on Production Resumptions After Short-Term Strength] This week, maintenance and production cuts were concentrated among alumina enterprises in south China, with operating capacity decreasing by 2.9 million mt/year on a QoQ basis, further tightening spot alumina supplies. Additionally, alumina enterprises have been facing losses in recent months, with a strong intention to stand firm on quotes. Coupled with maintenance and production cuts, spot alumina supplies tightened, leading to a significant rebound in spot prices. On the futures front, driven by a shift in alumina fundamentals towards a deficit, as well as news on production dynamics of domestic alumina enterprises, the revocation of mining rights of several miners in Guinea, and favourable macro front, alumina futures rebounded strongly. In the short term, due to the concentrated maintenance and production cuts, spot alumina supplies are expected to remain tight, with prices expected to hold up well. However, as maintenance at alumina enterprises concludes and new capacity is released, alumina operating capacity is expected to rebound. Going forward, continuous attention should be paid to maintenance, production cuts, and production resumptions at alumina enterprises.