---
title: "《大行》大摩將中鋁 A 股納入中國及香港焦點股份名單"
description: "摩根士丹利將中鋁 A 股納入中國及香港焦點股份名單，移除長江電力。中鋁為國內最大鋁生產商，擁有 815 萬噸合法鋁生產配額，計劃與力拓成立合資公司收購巴西鋁業近 69% 股權。大摩預測鋁價將維持高位，行業基本面緊張，預計中國鋁業利潤率表現強勁，給予「增持」評級。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/274746349.md"
published_at: "2026-02-04T02:38:30.000Z"
---

# 《大行》大摩將中鋁 A 股納入中國及香港焦點股份名單

> 摩根士丹利將中鋁 A 股納入中國及香港焦點股份名單，移除長江電力。中鋁為國內最大鋁生產商，擁有 815 萬噸合法鋁生產配額，計劃與力拓成立合資公司收購巴西鋁業近 69% 股權。大摩預測鋁價將維持高位，行業基本面緊張，預計中國鋁業利潤率表現強勁，給予「增持」評級。

摩根士丹利發表研究報告，調整中國及香港焦點股份名單及 A 股主題焦點名單，納入中鋁 A 股 (601600.SH)，並移除長江電力 (600900.SH)，表示看好中鋁為國內最大鋁生產商，擁有 815 萬噸合法鋁生產配額，公司早前宣佈計劃與力拓成立合資公司，收購巴西鋁業近 69% 股權，相信若交易落實，將推動中國鋁業綠色鋁產量增長，並提升其海外市場業務佔比。

在宏觀環境、美元走弱、中國國內產能及海外供應增長受限等因素下，大摩預測今年鋁價將維持於高位，行業基本面緊張，生產成本或能可能輕微下降，相信中國鋁業今年利潤率表現將強勁，有能力在未來幾年繼續逐步增加派息，給予「增持」評級。

### Related Stocks

- [02600.HK - 中國鋁業](https://longbridge.com/zh-HK/quote/02600.HK.md)
- [601600.CN - 中國鋁業](https://longbridge.com/zh-HK/quote/601600.CN.md)

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