On May 20, China Hongqiao rose 3.06% in regular trading, reaching HKD 31.68/share, with trading volume of HKD 692 million.

On the news front, Middle East supply disruptions are reshaping the global aluminum industry landscape. Chinese customs data showed April aluminum exports surged 15% year-over-year to 598,000 metric tons, with cumulative exports reaching 2.05 million tons year-to-date, up 8.9% YoY. Citi forecasts aluminum inventories will fall to historic lows — now at 55-year troughs — within 6 to 12 months, projecting approximately 2.7 million tons of supply shortage even under weak demand scenarios. Citi sees aluminum prices potentially reaching USD 4,000/ton within three months. Meanwhile, CMBI models indicate the global aluminum supply gap will widen to 2% of demand, with full Middle East production recovery requiring up to 18 months even if hostilities cease immediately. The aluminum sector rallied broadly, with CHALCO rising 4.53% and Chuangxin Industrial gaining 3.7%.

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