MBALUCO@EC2606A

China Merchants Securities resumes tracking China Aluminum Corporation A-shares with a strong buy rating

ZAL (China Aluminum Corporation) and FAW Group to Deepen Strategic Collaboration

China Aluminum Communicates with Government on Supporting Rio Tinto and Glencore Merger

CICC upgrades China Aluminum A-shares rating

Citi Raises Profit Forecast and Target Price for China Aluminum

JPMorgan Increases Its Stake in China Aluminum

China Aluminum Corporation plans to acquire 51% equity of Yunnan Aluminum Logistics and adjust the JV's capital contribution

ALCOLOGISTIC Intends to Acquire 51% Stake in Yunnan Yunlvlogistics

Chalco Acquires Minority Stake in Three Subsidiaries of Yunnan Aluminum

China Aluminum Corporation Completes Capital Injection into Yunnan Aluminum Foil, Stock Price Falls

CNAC Guinea Boa Project Hauls Over 200 Million Tons of Bauxite

HSBC Research Publishes Monthly Commodity Report, Predicts Positive Outlook for Base Metals and Gold

CHALCO to Hold Extraordinary General Meeting to Discuss Acquisition of Minority Stake

First shipment of iron ore from Senguelba project in which China Aluminum Group participates successfully dispatched

CHALCO Receives New Utility Model Patent Authorization

China Aluminum Corporation's Subsidiary Plans Acquisition of Three Companies Held by Yunnan Metallurgical Group

China Aluminum Corporation Increases Holdings in Yun Aluminum Yongxin et al from Controlling Shareholder

China Aluminum Invests in Yunnan Aluminum Foil

Chinalco Yunnan Aluminum Subsidiary Increases Investment in Yunnan Aluminum Foil

JPMorgan Recommends Buying Aluminum Stocks on Dips

MEGAIN

GUANZE MEDICAL

RUIHE DATA

KFM KINGDOM

BGMC International

OKURA HOLDINGS

YUFENGCHANG HLD

FANGZHOU JIANKE

KIN PANG HLDGS

HAO BAI INTL

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601600

PICK

Alcoa CEO: The company's overall tariff expenses amount to $1 billion

Wallstreetcn

Invesco DB TR Base Metals ETF

CHALCO

ISHRS MSCI Glb Slct Met & Mining

SPDR S&P Mtls & Mng

Alcoa

According to sources cited by Bloomberg, China Aluminum Corporation, as one of the largest shareholders of Rio Tinto, is inclined to support Rio Tinto's acquisition plan for Glencore. The report cites sources indicating that the final decision on whether China Aluminum Corporation supports the transaction is decisively influenced by the Chinese government, and China Aluminum has communicated its intention to support the transaction with relevant government departments. China Aluminum Corporation has held shares in Rio Tinto for nearly 20 years and currently owns approximately 14.55% of Rio Tinto's London-listed equity

AASTOCKS

Rio Tinto

According to reports, CHALCO supports Rio Tinto's acquisition of Glencore

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Bank of America Securities released a research report, stating that 2026 is the "Year of the Red Horse," optimistic about aluminum stocks, predicting a price-to-earnings ratio of 8 to 10 times, with a preference for China Aluminum, Zijin Mining, CHINAHONGQIAO, SD GOLD, and Ganfeng Lithium. They hold a pessimistic view on construction and solar materials due to weak demand and poor policy enforcement

CHINAHONGQIAO

Ganfeng Lithium

GANFENGLITHIUM

SD-GOLD

SD GOLD

Zijin Mining

ZIJIN MINING

"Big Banks" Bank of America Securities: "Year of the Red Horse" Preferred Aluminum Stocks, Pessimistic on Construction and Solar Materials, Top Stock Picks are Chalco, Zijin Mining, CHINAHONGQIAO, SD GOLD, and Ganfeng Lithium

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JP Morgan released a research report, updating the investment ratings and target prices for gold mining stocks. Zijin Mining, CMOC, and CHALCO were all rated as overweight, with target prices raised; Jiangxi Copper and Yancoal were downgraded to neutral or underweight. Overall, the report covers rating changes for multiple companies, reflecting the market's differing views on gold mining stocks

CMOC

JP Morgan's investment ratings and target prices for gold mining stocks (Table)

CHALCO announced that the board of directors received a written resignation from Jiang Tao today (8th). Due to work requirements, Jiang Tao has requested to resign from the positions of executive director, deputy general manager, and member of the board's ESG committee, effective immediately. After the resignation takes effect, Jiang Tao will no longer hold any positions in the company and its subsidiaries

Vice President of CHALCO Resigns

Guotai Junan Securities expects that the profitability of the electrolytic aluminum industry will reach a new high, and aluminum prices will continue to rise. The LME aluminum futures price has risen to USD 3,085.5, with strong market demand for aluminum and copper. It is expected that the global copper supply-demand gap will reach 830,000 tons by 2026, and copper prices are likely to break through USD 13,000 per ton. In terms of electrolytic aluminum, due to declining costs and demand exceeding expectations, the profit per ton of aluminum will continue to expand, with electricity becoming the largest constraint on supply

According to Guojin Securities, the electrolytic aluminum industry is expected to achieve record high profits, and the aluminum sector has become a quality dividend asset

On the last trading day of 2025, the three major A-share indices showed mixed performance. The Shanghai Composite Index rose slightly by 0.09% to 3968 points, with a cumulative increase of 18.41% for the year; the Shenzhen Component Index fell by 0.6% to 13525 points, with an annual increase of 29.87%; the ChiNext Index dropped by 1.2% to 3203 points, with a significant annual increase of 49.57%. The central parity rate of the RMB against the US dollar was adjusted to 7.0288, and the People's Bank of China conducted a reverse repurchase operation of 528.8 billion yuan. The manufacturing PMI in the mainland rose to 50.1 in December, exceeding expectations. Some stocks, such as Zijin Mining and CHALCO, performed well, while chip stocks generally softened

On New Year's Eve, the three major indices of A-shares showed mixed performance, with the Shanghai Composite Index rising over 18% for the year, and the Shenzhen Component Index and ChiNext Index increasing by nearly 30% and 50%, respectively

Chalco Unit Eyes 51% Stake in Associate

marketscreener

Chalco Unit Eyes 51% Stake in Associate

Chalco Logistics Group Co., Ltd., a subsidiary of Aluminum Corporation of China Limited, plans to acquire a 51% stake in Yunnan Yunlv Logistics Investment Co., Ltd. from Yunnan Aluminum Co., Ltd. for approximately RMB263.84 million. After the acquisition, Chalco Logistics will hold 51% and Yunnan Aluminum 49% of Yunlv Logistics. The transaction is subject to final appraisal, and no concrete agreement has been reached yet regarding the acquisition.

Reuters

Chalco Logistics to Acquire 51% Stake in Yunlv Logistics for RMB263.84 Million

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SANHUA(02050) rose 12.53%, with a trading turnover 2.3 Billion HKD, and a year-to-date rose 71.6%. BIDU-SW(09888) rose 8.9%, with a trading turnover 3.1 Billion HKD, and a year-to-date rose 56.8%. LAOPU GOLD(06181) fell 5.62%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 181.3%. POP MART(09992) fell 4.55%, with a trading turnover 3.1 Billion HKD, and a year-to-date rose 115%.

- The Hang Seng Index increased by 0.86%, with a year-to-date gain of 28.9%, while the Hang Seng Tech Index rose by 1.74%, accumulating a 24.8% increase this year.  
- Three Flowers Smart Control (02050) saw a jump of 12.53% with a trading volume of 2.28 billion HKD, resulting in a cumulative gain of 71.6% for the year.  
- Baidu-SW (09888) climbed 8.9%, with a turnover of 3.13 billion HKD and a year-to-date rise of 56.8%, while Old Paved Gold (06181) and Pop Mart (09992) experienced declines despite significant annual gains.

Top Gainers & Losers

SANHUA

BIDU-SW

Lens

SMIC

LAOPU GOLD

POP MART

CONCH CEMENT

CGN POWER

MIXUE GROUP

Top 5 HK Stock Gainers/Losers (>100B) (12.30)

BIDU

STECH

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The Hang Seng Index closed at 25,854 points, up 219 points or 0.9%; the Hang Seng TECH Index reported 5,578 points, up 95 points or 1.7%. The total market turnover was HKD 199.769 billion. Baidu Group - SW rose over 8%, CIMC ENRIC, CHALCO, and REALORD GROUP reached new highs. Active heavyweight stocks including Xiaomi, China Construction Bank, Alibaba, Tencent, and Meituan all saw varying degrees of increase

Baidu

Hang Seng TECH Index

CIMC ENRIC

REALORD GROUP

The Hong Kong Index closed at 25,854 points, up 219 points; the Hang Seng TECH Index closed at 5,578 points, up 95 points. Baidu Group - SW rose over 8%, CIMC ENRIC, CHALCO, and REALORD GROUP reached new highs with active trading

06616

The Hang Seng Index closed at 25,751 points, up 116 points or 0.5%; the Hang Seng Tech Index reported 5,540 points, up 57 points or 1.0%. The China Enterprises Index rose 59 points or 0.7%, closing at 8,951 points. Baidu Group - SW rose over 6%, while CHALCO, REALORD GROUP, CIMC Enric, and GLOBAL NEW MAT reached new highs

GLOBAL NEW MAT

The Hang Seng Index closed at 25,751 points, up 116 points; the Hang Seng Tech Index closed at 5,540 points, up 57 points. Baidu Group - SW rose over 6%, while CHALCO, REALORD GROUP, CIMC Enric, and GLOBAL NEW MAT hit new highs

China Aluminum (2600.HK) saw its stock price rise again in the afternoon yesterday, driven by the rally in overseas aluminum futures, and at one point approached previous highs, with a noticeable increase in buying sentiment. This week, the company announced that a significant alumina project is about to be put into production, and stimulated by the rise in international metal prices, the non-ferrous metal sector has attracted capital, becoming a hotspot for investment. Short-term capital is active in the market, with a significant increase in turnover rate, and the stock price remains in a high-level fluctuation zone. From a technical perspective, multiple short-term momentum indicators are strengthening simultaneously, with solid support from the 20-day and 30-day moving averages on the daily chart, indicating a significant bullish atmosphere. Trading volume continues to expand, reflecting a strong willingness of main funds to control the market. However, caution is needed as overbought indicators (such as RSI and KDJ) are at high levels, increasing risk awareness, and some main funds have chosen to cash out at high levels, gradually increasing the risk of high-level pullbacks during sector rotations. From an industry perspective, the themes of carbon neutrality and domestic substitution, along with supply-side reforms, continue to stimulate industry leaders. Due to fluctuations in overseas metal prices, domestic and international aluminum prices frequently experience sharp rises and falls. China Aluminum has shown multiple abnormal movements, and the trends and sentiment changes of main funds have become the focus for the future market. In the high-level zone, capital inflows and outflows are interspersed, and short-term vigilance is required regarding the volatility caused by frequent capital movements. A volume contraction pullback or external market sentiment fluctuations may lead to sharp price adjustments. In terms of operations, it is recommended to closely track intraday trading and relevant sector news to quickly adjust positions and prevent sudden risks

Technical Forecast

Morning Trend | CHALCO surges on increased volume, frequent high-level warning signals in the sector?

MBALUCO@EC2606A(15652.HK)

Alcoa CEO: The company's overall tariff expenses amount to $1 billion

According to reports, CHALCO supports Rio Tinto's acquisition of Glencore

"Big Banks" Bank of America Securities: "Year of the Red Horse" Preferred Aluminum Stocks, Pessimistic on Construction and Solar Materials, Top Stock Picks are Chalco, Zijin Mining, CHINAHONGQIAO, SD GOLD, and Ganfeng Lithium

JP Morgan's investment ratings and target prices for gold mining stocks (Table)

Vice President of CHALCO Resigns