Stock Track | CHALCO Soars 5.09% Intraday on Bullish Analyst Call, Institutional Buying, and Aluminum Supply Constraints

Stock Track
Apr 16

CHALCO's stock price surged 5.09% during intraday trading on Thursday, significantly outperforming the broader market.

The rally was driven by multiple positive catalysts. Citi initiated a 30-day upside catalyst watch on the stock with a "Buy" rating and a target price of HK$15.94, citing expected positive management guidance and the market underestimating supply disruptions. Concurrently, institutional interest was highlighted by BlackRock's recent purchase of approximately 7.5 million shares, increasing its stake in the company.

Sector-wide tailwinds also contributed to the move. Aluminum stocks gained amid tight global supply conditions, with production constraints in the Middle East due to geopolitical tensions. JPMorgan noted that visible aluminum inventories have fallen to critically low levels, equivalent to only nine days of consumption, and forecasted higher aluminum prices in the coming months.

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