SMM Flash: Alumina 2601 Futures Slump, Bearish Trend Intensifies

Published: Dec 3, 2025 09:12

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[SMM Flash] Futures: The most-traded alumina 2601 futures contract continued to trade in the doldrums during the overnight night session. After opening at 2,671 yuan/mt, the futures briefly climbed to 2,675 yuan/mt but soon came under pressure and pulled back, hitting a low of 2,647 yuan/mt before settling near the day's bottom at 2,648 yuan/mt, indicating persistent selling pressure and a lack of effective support formation. Open interest held steady at 359,000 lots, reflecting ongoing battles between bulls and bears. Technically, the current price has fallen below the short-term moving average system, with the MA5 (2,664.4), MA10 (2,673.7), and MA30 (2,689.97) forming successive layers of resistance in a clear bearish alignment, signaling a continued short-term downtrend. If the price remains suppressed below these moving averages during the session, it may further test the support level around 2,600 yuan/mt in the near term.

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