The Zhitong Finance App learned that China Aluminum (02600) fell nearly 5% in the afternoon. As of press release, it decreased by 4.71% to HK$6.985, with a turnover of HK$185 million.

According to the news, China Aluminum previously announced results. Revenue for the third quarter was 61,181 billion yuan, up 1.74% year on year; net profit was 6.044 billion yuan, up 59.10% year on year, down 4% month on month. Societe Generale Securities pointed out that against the backdrop of high and volatile aluminum prices, the company's profit remained high in a single quarter. Looking at the month-on-month basis, both production and sales of electrolytic aluminum and alumina rose month-on-month, but the price of electrolytic aluminum and alumina declined slightly month-on-month, and the company's overall performance declined slightly month-on-month.

ANZ released a research report saying that the accelerated recovery of aluminum production capacity in the Middle East, the maintenance of a high level of production in China, and the continued expansion of production in Indonesia are helping to ease the tight supply situation in the global aluminum market. The bank expects the supply gap to narrow this year and turn surplus in 2027. However, supply risks in the Middle East may keep aluminum prices above 3,000 US dollars/ton early next year.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.