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RX Greater China Hosts Record-Breaking ALUMINIUM CHINA 2024, Focuses on Green Smart Aluminium and International Cooperation
Aluminum industry stocks generally fell with Aluminum Corporation of China (02600) down 5.39%. Institutions pointed out that aluminum prices are expected to fluctuate and grind lower in the short term.
Aluminum stocks are generally down, with Aluminum Corporation of China (02600) down 5.39%, Chinahongqiao (01378) down 3.76% and Xingfa Alum (00098) following suit. Guohai Securities said that in the short term, the aluminum price will maintain a bottom and fluctuate, and the strengthening of the expectation of rate cuts by the Federal Reserve will provide some support to the aluminum price. The discussion on the opening of Indonesian bauxite exports has impacted the market sentiment, and the short-term supply of bauxite is still tight. The price of alumina is strong, which still supports the price of aluminum, and companies with integrated operations will benefit significantly. We pay attention to investment opportunities in the sector in the future, as the long-term supply increment in the aluminum industry is limited, but demand is still growing.
Aluminum oxide prices have risen to a two-year high, and China's aluminum oxide industry is actively increasing production.
Aluminum oxide prices reached $510 per ton, hitting a two-year high. The price increase has stimulated aluminum oxide production in China, with new projects in Shandong, Chongqing, Inner Mongolia, and Guangxi to be put into operation in the second half of this year. Chinese aluminum oxide producers are increasing production to seize this opportunity of high stock prices.
Aluminum Market to Reach $285.4 Billion, Globally, by 2033 at 5.9% CAGR: Allied Market Research
Xingfa Aluminium Holdings (HKG:98) May Have Issues Allocating Its Capital
Xingfa Aluminum Announces Deloitte Guan Huang Chen Fang Appointed as New Auditor
Xingfa Aluminum (00098) announced that KPMG has retired as the auditor of the company, effective at the end of the annual shareholders' meeting. Since Ordinary Resolution No. 4 contained in the Notice of the Annual General Meeting of Shareholders was officially passed by shareholders at the Annual General Meeting, Deloitte Guanhuang Chen Fang has been appointed as the company's new auditor since the end of the AGM to replace the retired auditor KPMG.
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