Stock Track | CHINAHONGQIAO Soars 5.01% Intraday on Middle East Production Cuts and Rising Energy Costs

Stock Track04-01

CHINAHONGQIAO's stock surged 5.01% during intraday trading on Wednesday, significantly outperforming the broader market.

The sharp rise comes amid reports of substantial production cuts by major aluminum producers in the Middle East. Both Bahrain Aluminium and Emirates Global Aluminium have indicated difficulties resuming operations in the short term, leading to an estimated 20% reduction in output by 2026. Given their significant scale, these companies represent over 6% of global aluminum production capacity.

Additionally, surging crude oil and natural gas prices are further elevating global aluminum production costs. In response to these supply disruptions, Goldman Sachs has raised its aluminum price forecasts for the London Metal Exchange, increasing its Q2 2026 projection from $3,200 to $3,450 per ton and lifting its full-year 2026 average price estimate.

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