Aluminum industry stocks rose across the board in early trading. As of press time, Aluminum Corporation of China (02600) rose 3.44%, to HKD 5.72; China Hongqiao (01378) rose 2.11%, to HKD 12.58.
According to the Smart Finance and Economic APP, aluminum industry stocks rose across the board in early trading. As of press time, Aluminum Corporation of China (02600) rose 3.44%, to HKD 5.72; China Hongqiao (01378) rose 2.11%, to HKD 12.58.
On the news front, at the June regular press conference held by the National Development and Reform Commission, Li Chao, Deputy Director of the Policy Research Office of the National Development and Reform Commission and spokesman for the Commission, revealed that the Special Action Plan for Energy Conservation and Carbon Reduction in Key Industries such as electrolytic aluminum, data centers, coal-fired power low-carbon transformation and construction is being developed.
China Securities Co., Ltd. pointed out earlier that electrolytic aluminum consumption is linked to real estate completion, and the real estate label makes the market not expect or be pessimistic about the electrolytic aluminum sector. However, the 7% growth in domestic aluminum consumption from January to May 2024 fully proves that the negative impact of real estate completion on electrolytic aluminum is effectively hedged by the high growth in sectors such as lightweight aluminum used in new energy vehicles, photovoltaic frame brackets, and high-voltage transmission and transformation. The bank pointed out that the global supply-demand gap for electrolytic aluminum will continue to exist from 2024 to 2026, and the over one million ton gap in China is conducive to promoting high profits in the industry.