CITIC Securities: Supply disruptions may push prices higher than expected, and we continue to be optimistic about investment opportunities in the aluminum sector.

CITIC Securities research report pointed out that according to Reuters news, on March 28-29, aluminum factories owned by EGA and Alba were successively attacked, involving a production capacity of 3.1 million tons/year, with the impact still unclear. Following a previous reduction of 560 thousand tons/year, the supply disruption risk in the Middle East region continues to escalate. The disturbance risk due to the increase in European energy costs is also worth paying attention to. The long-term supply and demand logic of the aluminum industry remains solid, and supply disruption may push prices higher than expected, continuing to recommend investment opportunities in the aluminum sector.