CITIC SEC Research Reports indicate that the global electrolytic aluminum production growth rate is expected to be 3.6%/2.2%/1.7%/0.9% from 2024 to 2027, showing a rapid downward trend. At the same time, our calculations show that the incentive price for overseas electrolytic aluminum projects could reach 3000 USD/24000 CNY. Currently, Aluminum prices are insufficient to stimulate the expansion of overseas capacity. Bullish on the potential for Aluminum price increases and the allocation value of the Aluminum Sector under strong supply constraints. Maintaining the Aluminum Sector rating as "outperforming the market."
中信证券：供给增速料将快速下移 铝价上涨空间可期
CITIC SEC: The supply growth rate is expected to quickly decline, with potential for Aluminum price increases.
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