Movement Alert｜Chalco Falls 3.32% in Regular Trading, Goldman Sachs Downgrades to Sell Combined with Broad Aluminum Sector Weakness

Market Focus06-17

On June 17, Chalco (02600.HK) fell 3.32% in regular trading, trading at HK$8.73/share, with turnover of HK$397 million.

On the news front, Goldman Sachs recently published a research report downgrading Chalco from Neutral to Sell, slashing its 12-month target price from HK$12.5 to HK$7.5. The bank cited accelerating aluminum supply growth both in China and overseas, projecting domestic capacity to exceed 48 million tons by year-end. Goldman Sachs estimates the SHFE spread will collapse from RMB 8,879/ton in 1H to RMB 4,250/ton in 2027, implying a 50% decline in recurring profit. Separately, Citigroup also cut its target price from HK$8.89 to HK$7.6, lowering net profit forecasts for the current and next fiscal year by 8% and 5% respectively.

The stock has been under sustained selling pressure since its formal inclusion in the Hang Seng Index took effect on June 8, when shares plunged 8%, displaying a classic buy-the-rumor-sell-the-fact pattern with persistent institutional net outflows. The aluminum sector traded broadly lower, with China Hongqiao down 3.22%, Nanshan Aluminium International down 2.45%, Chuangxin Industrial down 1.96%, and Rusal down 1.1%.

(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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