Shouchuang Futures: Long and short battles, aluminum oxide may gradually stabilize

Under previous bullish stimuli, aluminum oxide once reached 3,100 yuan, but as market sentiment turned fearful, aluminum oxide longs took profits and exited. Last night, aluminum oxide opened below 3,000 yuan, with a decline of over 3%, but based on optimism about future supply restrictions of aluminum oxide, the overall performance remained relatively strong, quickly rebounding to 3,000 yuan. Today, aluminum oxide continued to rebound, trading between 3,000 and 3,100 yuan. In the short-term, with the battle between bulls and bears, both upside and downside potentials are limited, awaiting policies from Guinea. However, in the short term, as new domestic production capacity comes online one after another, the oversupply expectation for aluminum oxide remains unchanged. We maintain a bearish outlook on aluminum oxide. (First Capital Futures)