Zhongtong Finance app learned that aluminum stocks rose in early trading as of press time, Aluminum Corporation of China (02600) rose 5.01% to HKD 5.45; CHALCO (01378) rose 2.57% to HKD 11.98.

Northeast Securities pointed out that in the short term, the real estate industry's bullish expectations have been repaired due to frequent positive news, and the macro sentiment supports high aluminum prices. In the medium and long term, the domestic electrolytic aluminum production capacity will be restricted by the ceiling, while the new energy aluminum demand is strong. The rise in copper prices increases the cost-effectiveness of aluminum as a substitute for copper, and the aluminum industry is expected to maintain a high degree of prosperity.

China CITIC Securities also pointed out that electrolytic aluminum consumption is closely related to real estate completion. The real estate label has caused the market to hold pessimistic expectations or no expectations for the electrolytic aluminum sector. However, from January to May 2024, domestic aluminum consumption increased by 7%, which fully proves that the negative impact of real estate completion on electrolytic aluminum has been effectively offset by the high growth in the fields of lightweight aluminum for new energy vehicles, photovoltaic frame brackets, high-voltage transmission, and other fields. The bank pointed out that the global electrolytic aluminum supply and demand gap will continue to exist from 2024 to 2026, and the million-ton supply gap in China is conducive to promoting the high profit of the industry.