NANSHAN AL INTL (02610) experienced a sharp decline in early trading on Monday, with its stock plummeting 6.05% to HK$40.68. The significant drop comes in the wake of the company's announcement regarding a substantial decrease in overseas alumina prices during the third quarter of 2025.

According to the company's statement, the average Q3 overseas alumina price was approximately $357 per ton, marking a significant 29% year-on-year decline. The price weakness was attributed to multiple factors, including weakened cost transmission from upstream bauxite in July and August, followed by the introduction of new overseas alumina production capacity in September, which further drove prices down.

Despite the current market challenges, NANSHAN AL INTL, a subsidiary of A-share listed Nanshan Aluminum, is pushing forward with its expansion plans. The company's second-phase project, which will add 1 million tons per year to its current 3 million tons annual alumina production capacity, is progressing faster than anticipated. Operations are expected to commence in Q4 2025 or Q1 2026, potentially positioning NANSHAN AL INTL as the largest alumina producer in Southeast Asia. However, the immediate market reaction suggests investors are more focused on the current price pressures than future growth prospects.