Movement Alert｜Chalco Falls 3.18% in Regular Trading, Third Consecutive Day of Pullback After Earnings-Driven Rally Amid Aluminum Price Pressure

Market Focus07-17 10:28

On July 17, Chalco (02600.HK) declined 3.18% in regular trading, trading at HKD 7.64 per share, with turnover of approximately HKD 98.19 million.

The decline marks the third consecutive session of pullback following a surge of over 9% on July 14, which was triggered by the company's H1 earnings pre-announcement projecting net profit of RMB 11.2–12.2 billion, representing year-on-year growth of 58%–73% and a record high for the period. Profit-taking pressure has been evident since the rally. Additionally, JPMorgan reduced its stake by approximately 11.63 million shares on July 9 at an average price of HKD 7.48, lowering its holding from 6.23% to 5.94%.

The broader aluminum sector weakened in tandem, with China Hongqiao down 3.24% and Nanshan Aluminum International down 6.72%. Industry-wide, aluminum prices have faced sustained headwinds since May due to concerns over China overcapacity and accelerated Indonesian production ramp-ups. Nevertheless, Morgan Stanley, Citi, and Bank of America maintain buy or overweight ratings with target prices ranging from HKD 9.16 to HKD 11.20, implying significant upside from current levels.

(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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