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港股异动 | 供给紧张刺激氧化铝价格大幅走强 中国宏桥(01378)涨超4% 中国铝业(02600)涨超3%

Changes in Hong Kong stocks | Tight supply spurred strong alumina prices, China Hongqiao (01378) rose more than 4%, and China Aluminum (02600) rose more than 3%

Zhitong Finance ·  May 21 21:39

Aluminum stocks rose again in early trading. As of press release, China's Hongqiao (01378) rose 3.47% to HK$12.24; China Aluminum (02,600) rose 2.81% to HK$5.85; and Rusal (00486) rose 2.26% to HK$2.71.

The Zhitong Finance App learned that aluminum stocks rose again in early trading. As of press release, China's Hongqiao (01378) rose 3.47% to HK$12.24; China Aluminum (02600) rose 2.81% to HK$5.85; and Rusal (00486) rose 2.26% to HK$2.71.

According to the news, Rio Tinto Group announced force majeure factors for alumina shipments from the two smelters, Yarwun Smelter in Australia and Queensland Alumina Co., Ltd., saying there was a shortage of natural gas inventory/supply for power generation, and the operating capacity of the two alumina companies fluctuated to 6 million tons (4% of global operating capacity).

CITIC Securities pointed out that Rio Tinto announced force majeure factors regarding Australian alumina shipments, and this incident catalyzed the rise and fall of alumina futures during the day. Looking at the longer term, the timing for the resumption of production in Jinyu is still unclear. Domestic bauxite supply continues to be tight, and the growth rate of alumina production is under pressure. At the same time, the resumption of electrolytic aluminum production in the Yunnan region is driving demand for alumina to exceed expectations. The above factors have stimulated a sharp increase in alumina prices, and industry profits are expected to improve markedly. We continue to be optimistic about investment opportunities in the aluminum sector and maintain the aluminum sector's “better than the market” rating.

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