Movement Alert｜Chalco Falls 3.07% in Regular Trading, Goldman Sachs Sell Rating Continues to Weigh Amid Middle East Capacity Recovery Expectations

Market Focus06-18

On June 18, Chalco (02600.HK) fell 3.07% in regular trading, trading at HK$8.53/share, with turnover of HK$158 million. The stock has now accumulated a decline of approximately 15% over the past three trading sessions.

On the news front, Goldman Sachs recently downgraded Chalco to a Sell rating, slashing its 12-month target price from HK$12.5 to HK$7.5, citing accelerating aluminum supply growth in China and overseas. The bank projects China's aluminum capacity will exceed 48 million tonnes by year-end, leading to a potential 50% decline in recurring profits by 2027. Citigroup also cut its target price to HK$7.6. Additionally, the US-Iran peace agreement has significantly increased the likelihood of the Strait of Hormuz reopening, prompting the market to price in Middle East aluminum capacity recovery, further pressuring aluminum prices.

Within the Aluminum sector, the overall sector declined broadly. Among individual stocks, China Hongqiao down 4.12%, Chuangxin Industrial down 4.99%, Nanshan Aluminum International down 1.48%, Rusal down 0.86%, Xingfa Aluminum flat at 0%.

(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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