China Hongqiao (01378) surged over 6% during trading session. As of press time, the stock was up 5.74% at HKD 26.52, with trading volume reaching HKD 565 million.

On the news front, London base metals rose across the board on September 11 local time, with LME aluminum futures climbing 2.06% to $2,679.00 per ton. Guosen Futures noted that the CME "FedWatch" tool shows the market is almost certain the Federal Reserve will cut rates by 25 basis points when the September 17 meeting concludes, while the probability of a 50 basis point cut has also increased. Strengthening rate cut expectations and a weakening dollar are supportive of aluminum prices.

Additionally, with downstream demand gradually recovering and market expectations for the peak season, macroeconomic factors and fundamentals are expected to gradually resonate, providing further upward momentum for aluminum prices.

Shenwan Hongyuan Securities pointed out that China Hongqiao is an electrolytic aluminum producer with significant integrated advantages, leading overseas bauxite resource deployment, high alumina and electricity self-sufficiency rates. Against the backdrop of China's increasing dependence on imported bauxite, combined with thermal coal prices operating at low levels, the company's cost advantages are prominent. Considering the company's rising equity capacity will boost profits, and with domestic electrolytic aluminum capacity approaching the ceiling, aluminum prices are expected to rise under the new supply-demand dynamics.

Minsheng Securities stated that September Fed rate cuts are clear, aluminum capacity has reached the ceiling, and long-term value prospects are promising.