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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.
Hong Kong stock market abnormal movement | The price of alumina repeatedly sets new record highs. Aluminum Corporation of China (02600) surged more than 7%, Chinahongqiao (01378) rose nearly 5%.
Aluminum stocks surged in the morning session, as of the time of publication, Aluminum Corporation of China (02600) rose 7.25%, to HK$6.51; chinahongqiao (01378) rose 4.89%, to HK$13.74.
Goldman Sachs Raises China Economic Growth Forecasts
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.
Aluminum Corporation of China Limited's (HKG:2600) 27% Share Price Surge Not Quite Adding Up