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Major Bank Rating | Citigroup: Chinahongqiao included in the 30-day upward catalyst observation factors, with a target price of HK$14.8.
Citigroup released a report, including chinahongqiao in the 30-day upward catalyst observation, believing that due to limited supply of alumina and bauxite, the alumina price is expected to remain strong in the short term. Citigroup maintains a "buy" rating on hongqiao, with a target price of 14.8 Hong Kong dollars, as the company has a higher proportion of self-generated electrical utilities, and aluminum profit margins may remain at a high level in the long term, benefiting from the decline in coal prices.
HK stocks abnormal movement | chinahongqiao (01378) surged over 6% in the afternoon, concerns over aluminum ore supply pushed up aluminum oxide prices, Citigroup raised the company's target price.
Chinahongqiao (01378) rose more than 6% in the afternoon, as of the time of publication, up 5.92%, at 13.6 Hong Kong dollars, with a transaction volume of 0.382 billion Hong Kong dollars.
Open Source Securities: Q4 commodity prices may experience significant fluctuations, with gold remaining the preferred choice for current allocation.
The uncertainty of the 2024 Q4 usa election and the pace of interest rate cuts by the Federal Reserve may once again dominate commodity price fluctuations, with the volatility of csi commodity equity index prices possibly significantly rising.
Hong Kong stock midday review | Aluminum ore supply obstruction catalyzes aluminum oxide price increase, funds chase after the aluminum sector.
On October 11, Emirates Global Aluminum (EGA) announced that the export of bauxite from its subsidiary in Guinea, Guinea Alumina Corporation (GAC), has been temporarily suspended by customs.
Hong Kong stock market midday review | Hang Seng Index fell by 87 points, with the bond conversion concept sector favored by funds.
Currently, the financialization of bonds has become an important means to resolve local government debt issues, with the AMC company benefiting the most directly.
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.
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