SMM Flash: Alumina 2601 Futures Edge Down, Consolidation Expected Short-Term

Published: Dec 16, 2025 10:11

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[SMM Flash] Overnight, the most-traded alumina 2601 futures contract edged down slightly, opening at 2,535 yuan/mt and closing at 2,538 yuan/mt, with limited intraday fluctuations. Open interest dropped by 4,833 lots to 201,000 lots, while trading volume shrank by 38,000 lots to 159,000 lots, indicating significantly weaker market participation. Technically, the current price is trading below the MA5 (2,552.2) and MA10 (2,554.4), with short-term moving averages acting as resistance, while the MA30 (2,505.4) still provides support below, suggesting a consolidation pattern. Overall, after the previous rebound, momentum has weakened; the simultaneous contraction in trading volume and open interest reflects strong wait-and-see sentiment in the market. In the short term, the consolidation trend is expected to continue, with resistance around the 2,550-2,560 zone warranting attention.

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