Original title: changes in Hong Kong stocks | Aluminum Corporation Of China Ltd(2600.HK) H shares rose more than 9% A shares rose limit Credit Suisse upgraded the company to outperform the market rating source: Gronghui
Aluminum Corporation Of China Ltd (2600.HK) rose 9.47% to HK $2.08 on July 20, with the latest total market capitalization of HK $58.5 billion, while the company's A shares rose by the daily limit of 3.47 yuan. Credit Suisse reports that mainland aluminium prices have risen by more than 25 per cent in the past three months due to increased demand for construction. The bank remains optimistic about industry demand for aluminium in the second half of the year, with prices expected to rise 1.5 per cent from a year earlier. It is also pointed out that the price of alumina has risen by about 20 per cent in the past few months to RMB 2500 per tonne, and it is believed that if the demand for aluminum in the mainland market continues to grow this year, Credit Suisse upgraded the company's H-share rating from "neutral" to "outperform the market". The target price was raised from HK $1.50 to HK $3.30.