Movement Alert｜Chalco Falls 3.04% in Regular Trading, Goldman Sachs Sell Rating Continues to Weigh on Aluminum Sector

Market Focus06-22

On June 22, Chalco (02600.HK) fell 3.04% in regular trading, trading at HKD 8.19/share, with turnover of HKD 154 million. The decline reflects the continued fallout from Goldman Sachs' downgrade issued on June 14.

Goldman Sachs cut Chalco's rating to \"Sell\" with a target price slashed from HKD 12.5 to HKD 7.5, citing accelerating Chinese aluminum capacity expansion projected to exceed 48 million tons and severe profit compression in electrolytic aluminum smelting. The bank forecasts aluminum price dropping to USD 2,350/ton by year-end, with supply-demand surplus firmly established. Additionally, the US-Iran peace agreement has raised expectations of Middle East aluminum capacity resumption as the Strait of Hormuz reopening becomes increasingly likely, further pressuring aluminum prices.

The aluminum sector broadly declined, with RUSAL down 5.33%, China Hongqiao down 4.66%, Chuangxin Industrial down 3.18%, and Nanshan Aluminium International down 2.97%. Notably, Citi maintains a \"Buy\" rating on Chalco with a target price of HKD 17.08, arguing the selloff is overdone and supply concerns are exaggerated.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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