理解市场 | 中国宏桥涨超 3% 国内铝土矿供应仍然紧张 铝价走强有望助力业绩大幅释放
China Hongqiao rose more than 3%, as of the time of publication, it rose by 3.16% to HKD 9.79, with a turnover of HKD 154 million. On the news front, Morgan Stanley pointed out that the company's stable profit contribution from the alumina business and the elasticity of aluminum prices should help performance in the second half of the year. On the one hand, with the tight supply of domestic bauxite and low inventory levels in aluminum smelters, alumina prices remain high; on the other hand, the company's aluminum business will benefit from integrated operations, falling coal prices, and the reduction in hydropower electricity prices during the flood season in Yunnan Province, and will enjoy flexible returns in the current fluctuating aluminum price environment. Haitong International stated that China Hongqiao actively lays out the entire industry chain of bauxite-alumina-aluminum-electrolytic aluminum-aluminum deep processing-recycled aluminum, and the integrated layout of the industry chain brings cost advantages to the company. The fourth quarter of 2024 is expected to start a rate-cutting cycle, with the global economy expected to continue its growth trend, and industries such as photovoltaics and new energy vehicles are expected to drive continuous growth in aluminum demand, potentially further strengthening aluminum prices and significantly boosting the company's performance
According to the information from Zhitong Finance and Economics APP, China Hongqiao (01378) rose by more than 3%, as of the time of publication, it rose by 3.16% to HKD 9.79, with a turnover of HKD 154 million.
On the news front, Morgan Stanley pointed out that the company's profitability contribution from the alumina business remains solid, and the elasticity of aluminum prices should help performance in the second half of the year. On the one hand, with the tight supply of domestic bauxite and low inventory levels in aluminum smelters, alumina prices remain high; on the other hand, the company's aluminum business will benefit from integrated operations, declining coal prices, and the reduction in hydropower electricity prices during the flood season in Yunnan Province, and will enjoy elastic gains in the current fluctuating aluminum price environment.
Haitong International stated that China Hongqiao actively lays out the entire industry chain of bauxite-alumina-aluminum-electrolytic aluminum-aluminum deep processing-recycled aluminum, bringing cost advantages to the company. The interest rate cut cycle is expected to start in the fourth quarter of 2024, the global economy is expected to continue its growth trend, and industries such as photovoltaics and new energy vehicles are expected to drive continuous growth in aluminum demand, potentially leading to further strengthening of aluminum prices, significantly boosting the company's performance
