Zhongjin: Aluminum prices are expected to reach new highs, optimistic about China Hongqiao, Chinalco, etc.

The report from Zhongjin indicates that the supply-demand gap for aluminum is expanding and the vulnerability is increasing due to the conflict between the US and Iran. Coupled with the positive resonance of global fiscal and monetary policies, aluminum prices are expected to reach new highs; considering the low costs, profits per ton of aluminum are expected to further increase. Considering the rise in energy and alumina prices, the bank recommends focusing on targets with high self-sufficiency in electricity and alumina, and recommends focusing on targets such as China Hongqiao, Chinalco, Tianshan Aluminum, Nanshan Aluminum, and Huatong Cable.