[alumina futures traded more than 100000 Glencore on the first day] the world's first physical delivery of alumina futures officially listed yesterday. A number of analysts said that the listing price of alumina futures is obviously lower than the current price, and the opening trend at the beginning of the session is in line with market expectations, but from the fundamentals of supply and demand in the spot market, it is unlikely to rise in the future; at the same time, from the perspective of arbitrage space, the current spot price discount characteristics are obvious, there are certain arbitrage opportunities, but from the perspective of cross-month arbitrage opportunities, due to long-short factors, cross-month arbitrage space is small.