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<Research>CICC Recommends CHINAHONGQIAO, CHALCO as Aluminum Prices May Grow Even Faster
Recommend 11 Positive 19 Negative 13 |
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Middle Eastern aluminum companies Qatalum and Alba declared force majeure on March 3-4, according to a CICC report. The annual production capacities of Qatalum and Alba reach 636,000 and 1.62 million tons, accounting for 0.8% and 2.0% of the global market, respectively. Spiked by this news, LME aluminum prices swelled by 2.5% on March 3 and 5% during the night session on March 4, hitting USD3,418 per ton, the highest since 2022. In CICC's estimate, aluminum prices could reach new highs given the widening aluminum supply-demand gap, the increasing vulnerability caused by the US-Iran conflict, and the global resonance of active fiscal and monetary policies. CICC recommended investors pay attention to NANSHAN AL INTL (02610.HK), CHINAHONGQIAO (01378.HK), CHALCO (02600.HK), TIANSHAN ALUMINUM (002532.SZ), NANSHAN ALUMINIUM (600219.SS), and HUATONG WIRES AND CABLES (605196.SH). AAStocks Financial News |
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