---
title: "《大行》大摩将中铝 A 股纳入中国及香港焦点股份名单"
description: "摩根士丹利将中铝 A 股纳入中国及香港焦点股份名单，移除长江电力。中铝为国内最大铝生产商，拥有 815 万吨合法铝生产配额，计划与力拓成立合资公司收购巴西铝业近 69% 股权。大摩预测铝价将维持高位，行业基本面紧张，预计中国铝业利润率表现强劲，给予「增持」评级。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/274746349.md"
published_at: "2026-02-04T02:38:30.000Z"
---

# 《大行》大摩将中铝 A 股纳入中国及香港焦点股份名单

> 摩根士丹利将中铝 A 股纳入中国及香港焦点股份名单，移除长江电力。中铝为国内最大铝生产商，拥有 815 万吨合法铝生产配额，计划与力拓成立合资公司收购巴西铝业近 69% 股权。大摩预测铝价将维持高位，行业基本面紧张，预计中国铝业利润率表现强劲，给予「增持」评级。

摩根士丹利发表研究报告，调整中国及香港焦点股份名单及 A 股主题焦点名单，纳入中铝 A 股 (601600.SH)，并移除长江电力 (600900.SH)，表示看好中铝为国内最大铝生产商，拥有 815 万吨合法铝生产配额，公司早前宣布计划与力拓成立合资公司，收购巴西铝业近 69% 股权，相信若交易落实，将推动中国铝业绿色铝产量增长，并提升其海外市场业务占比。

在宏观环境、美元走弱、中国国内产能及海外供应增长受限等因素下，大摩预测今年铝价将维持於高位，行业基本面紧张，生产成本或能可能轻微下降，相信中国铝业今年利润率表现将强劲，有能力在未来几年继续逐步增加派息，给予「增持」评级。

### Related Stocks

- [02600.HK - 中国铝业](https://longbridge.com/zh-CN/quote/02600.HK.md)
- [601600.CN - 中国铝业](https://longbridge.com/zh-CN/quote/601600.CN.md)

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