Movement Alert｜Chalco Falls 3.03% in Regular Trading, Goldman Sachs Sell Rating Continues to Weigh on Aluminum Sector

Market Focus06-23

On June 23, Chalco (02600.HK) declined 3.03% in regular trading, trading at HKD 8.32 per share, with turnover of HKD 78.08 million.

On the news front, Goldman Sachs previously downgraded Chalco to a Sell rating and slashed its 12-month target price from HKD 12.5 to HKD 7.5, citing accelerating aluminum capacity expansion in China expected to exceed 48 million tonnes and significant industry profit compression ahead. Citigroup also cut its target price to HKD 7.6. Additionally, the US-Iran peace agreement has boosted expectations for the reopening of the Strait of Hormuz, with markets continuing to price in Middle East aluminum capacity restart, putting sustained pressure on aluminum prices.

The aluminum sector broadly weakened, with Chuangxin Industrial down 5.01%, Nanshan Aluminum International down 5.6%, and China Hongqiao down 0.26%. However, Citigroup maintained a Buy rating on Chalco, arguing the selloff is overdone and current weakness presents a buying opportunity with a target price of HKD 17.08.

(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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