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Supply interruptions combined with surging demand in China have caused aluminum oxide to soar to record levels.
Due to global supply interruptions and strong demand in China, the primary raw material market for aluminum smelters continues to tighten, causing Shanghai aluminum oxide futures prices to soar to historic highs.
Hong Kong stocks unusual movement | Chinahongqiao (01378) surged nearly 8% in early trading, with a substantial increase in its target price, bullish on aluminum demand picking up in the peak season.
chinahongqiao (01378) rose nearly 8% in early trading, as of the time of publication, it rose 7.64%, to HK$13.24, with a turnover of 0.275 billion Hong Kong dollars.
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Research reports dig deep | swhy: First given chinahongqiao a 'shareholding' rating, the company's integrated advantages are evident.
swhy released a report, initiating coverage on chinahongqiao for the first time with a "shareholding" rating. The report indicates that considering the company is an electrolytic aluminum producer with significant integration advantages, leading overseas bauxite resource layout, high alumina and electrical utilities self-sufficiency, amidst the increasing dependence on foreign bauxite domestically and the low running price of thermal coal, the company's cost advantages are prominent. With the improvement in the aluminum industry's prosperity, the company's performance is expected to continue growing. swhy expects chinahongqiao's net income from 2024 to 2026 to be 19 billion, 20.2 billion, and 21.4 billion yuan respectively, with corresponding pe ratios of 6 times.
CMB International: China's stimulus policies are expected to push up aluminum prices, raising the target price of Chinahongqiao (01378) to HK$19.6.
Zhaojin International recently released a research report stating that the institution believes the aluminum industry is one of the industries highly sensitive to China's introduction of a series of strong market support policies.
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