In its research report, China Securities Co., Ltd. pointed out that the consumption of electrolytic aluminum is related to real estate completion, and the real estate label has made the market hold no expectations or pessimistic expectations for the electrolytic aluminum sector. However, the growth of domestic aluminum consumption from January to May 2024 increased by 7%, fully proving that the negative impact of real estate completion on electrolytic aluminum was effectively offset by the high growth of lightweight aluminum for new energy vehicles, photovoltaic frame brackets, high-voltage transmission and transformation, etc. The domestic electrolytic aluminum production capacity is close to the ceiling, and the supply is lacking elasticity. The construction and release of overseas electrolytic aluminum production capacity is lower than expected, which means that the global electrolytic aluminum supply-demand gap will continue to exist from 2024 to 2026, and the million-ton gap in China is advantageous for promoting high profits in the industry. The fundamental outlook for the aluminum plate sector is solid and should not be buried under the real estate label. The power of expected differences should not be underestimated.